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
3 May 2024
Upcoming elections are likely to deliver a win for the party of president Andres Lopez Obrador, but analysts differ over to what degree his successor will stick to his energy policies
2 May 2024
Faster-than-expected economic growth fails to mask macro imbalances and shifting structural oil product trends
1 May 2024
Energean CEO Mathios Rigas looks to results of critical Anchois appraisal well
30 April 2024
While its regional neighbours reap the rewards of oil and gas success, Iraq’s hydrocarbons sector is lagging behind