Pipelines near the Primrose Lake oil sands project
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
2 April 2026
Alongside a rapid continued build-out of renewables, China’s latest five-year plan stresses the value of domestic hydrocarbon production for energy security and calls for increased Russian gas imports
2 April 2026
The government is taking important steps to revive domestic production, lift investment and benefit from the geopolitical crisis even if more needs to be done in the longer term
1 April 2026
Golden Pass’s startup offers QatarEnergy a timely boost but may also force a difficult choice between honouring disrupted contracts and capitalising on soaring spot LNG prices
1 April 2026
It is not a case of if or when, but the length and magnitude of economic damage from elevated oil prices
