Canadian Natural Resources Ltd. aims to invest $7 billion to increase capacity next year and will raise 2012 oil output 17 percent to benefit from high oil prices, President Steve Laut said.
Canadian Natural Resources Ltd. said it expects production to resume at its Horizon oil-sands project in the third quarter.
Canadian Natural Resources Ltd., the nation’s second-largest natural gas producer, agreed to buy Devon Energy Corp.’s conventional assets in Canada for C$3.13 billion ($2.86 billion) to boost output.
Expanding pipelines and railroads are helping Canada’s biggest energy companies get higher prices for oil, leaving bulls in command in the options market.
British Columbia’s provincial election threatens to stymie efforts by Canadian Natural Resources Ltd. and other Alberta oil-sands companies to sell crude to Pacific markets.
"If we had low pricing, we may decide some time in 2015, we could defer Grouse."
- Steve Laut on Nov 06, 2014