Championing the oil sands
Canadian Natural’s chief is comfortable with his firm’s bet on the controversial resource
Canadian Natural Resources Ltd, Canada’s largest producer and one of the biggest independents globally, has faced significant scepticism for its all-in strategy towards the country’s oil sands, especially when scooping up assets from fleeing IOCs such as Shell. But the Calgary-based company may ultimately have the last laugh, with soaring oil prices and increased focus on energy security helping propel its market valuation above C$100bn ($78bn), the first Canadian oil and gas company to achieve this milestone on Toronto Stock Exchange. Tim McKay, Canadian Natural’s president, contends that the firm has been far more proactive at adopting carbon capture and storage (CCS) at its facilities tha
Also in this section
28 March 2024
The country’s largest gas field is a bright spot for the North Sea, boasting cleaner operations amid a changing mood in Europe over hydrocarbons
28 March 2024
Whether OPEC+ starts to unwind its oil production cuts from June will depend on heavily debated unfolding supply-demand balances
28 March 2024
As a gas supply shortfall looms, balancing regulatory flexibility with energy security and investor confidence will be critical
27 March 2024
Oil producers have to untangle the increasingly complicated relationship with their natural resources