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
24 October 2024
Producers in the region see significant gains to be made by boosting output using the infrastructure already in place
23 October 2024
Markets have seen no material disruption from the war so far, but as the fighting goes on it is a matter of when, not if
23 October 2024
Majors in the region are pushing boundaries and could see significant upside, but longer-term risks remain
22 October 2024
Angola is unlikely to meet the official timeline for an IPO of state-owned oil giant Sonangol in 2026