cnrl news 2020

CNRL purchased Shell's 60% stake in AOSP in the spring of 2017, giving it a 70% ownership of the project. August 10, 2020 Canadian Natural Resources Limited Announces Acquisition of Painted Pony Energy Ltd.

CNRL says the increase was achieved through a series of optimization projects, process improvements, and enhanced reliability. Kirby North was commissioned at the end of last year, but ramp-up was delayed due to the province's curtailment quotas. We reserve the right to close comments at any time. CNRL beats expectations despite loss and halving of revenues, CNRL cuts spending, salaries as more producers trim capital plans, CBC's Journalistic Standards and Practices. The upgrader began a 55-day maintenance turnaround in early July. CNRL purchased Shell's 60% stake in AOSP in the spring of 2017, giving it a 70% ownership of the project. CNRL cuts spending, salaries as more producers trim capital plans Canadian Natural Resources was expected post adjusted losses totalling 85 … The company says it prioritized maintenance activity last quarter, directing more light oil and synthetic crude into storage in order help mitigate the impacts of low oil prices. CNRL says Synthetic Crude Oil (SCO) output touched a quarterly record of 464,300 bbl/day, up 25% y/y, despite a planned maintenance turnaround at Horizon. It is a priority for CBC to create a website that is accessible to all Canadians including people with visual, hearing, motor and cognitive challenges. CNRL confirmed it has additional space booked on both the Trans Mountain Expansion (94,000 bbl/day) and Keystone XL (200,000 bbl/day), as well as storage capacity in both Edmonton and Hardisty, allowing it to ride out short-term fluctuations in oil prices and production volumes. Gross production capacity at the two upstream AOSP mines, Muskeg River and Jackpine, was confirmed at 339,000 bbl/day in June, almost 85,000 bbl/day above current nameplates. Thu., Oct. 8, 2020 timer 2 min.

Please note that CBC does not endorse the opinions expressed in comments. Canadian Natural Resources Ltd. beat analyst expectations despite swinging to a loss in its latest quarter on a halving of revenues. CNRL has a 50% stake in the facility, which is operated by the North West Redwater Partnership. Total upstream production averaged 1,165 million boe/day, weighted 79% liquids.

Audience Relations, CBC P.O. The increase was mostly attributed to CNRL’s acquisition of the Jackfish assets last year, and a strong ramp-up of Kirby North. CNRL says the increase was achieved through a series of optimization projects, process improvements, and enhanced reliability. Revenues for the three months ended June 30 were $2.94 billion, down from $5.93 billion a year earlier. Canadian Natural Resources (CNRL) reported another record quarter this week, despite numerous headwinds in oil markets.

Canadian Natural Resources was expected post adjusted losses totalling 85 cents per share on $2.84 billion of revenues, according to financial markets data firm Refinitiv. Capacity of the Scotford Upgrader should increase from 255,000 bbl/day to 320,000 bbl/day by the third quarter. The company says most of its voluntarily production cuts were restored in June. Canadian Natural Resources Limited (CNQ) press releases may be received automatically by email upon your request. Q2 production figures are up 14% from the same time last year, but little changed from the first quarter. Our financial discipline, a strong balance sheet, and capacity to internally generate funds flow provide us the means to grow.

CNRL says the in-situ facility averaged 43,000 bbl/day in July, 3,000 bbl/day above its nameplate capacity. Horizon is scheduled to undergo another 20-day maintenance turnaround in mid-September, curtailing production by about 80,000 bbl/day. For the first half of this year, CNRL reported an operating loss of $1.1 billion, versus a gain of $1.9 billion for the first half of 2019. Closed Captioning and Described Video is available for many CBC shows offered on CBC Gem. The effectiveness of our strategies and our ability to execute on those strategies allows us to react quickly to changing markets and commodity price volatility," stated president Tim McKay. Total in-situ production, including Jackfish, Kirby, Primrose and Peace River, averaged 220,555 bbl/day for the first six months of the year.

By submitting a comment, you accept that CBC has the right to reproduce and publish that comment in whole or in part, in any manner CBC chooses. Higher utilization rates and operational enhancements at both Horizon and Albian Sands partially offset production losses from Horizon’s spring maintenance outage. Comments on this story are moderated according to our Submission Guidelines. read Canadian Natural Resources has asked the Peace River Regional District to reconsider its decision to decline the … Box 500 Station A Toronto, ON Canada, M5W 1E6. "Canadian Natural is in a strong position as a result of our capital flexibility and continued focus on cost control, which maximizes margins in a volatile commodity price environment. To encourage thoughtful and respectful conversations, first and last names will appear with each submission to CBC/Radio-Canada's online communities (except in children and youth-oriented communities). Oilsands giant Canadian Natural Resources Ltd. is joining a lengthening list of oilpatch players who are cutting 2020 capital spending due to the COVID-19 pandemic and plunging oil prices. The company produced 1.16 million barrels of oil equivalent per day, including about 922,000 barrels per day of crude and natural gas liquids, up from 1.02 million boe/d including 770,000 bbl/d a year earlier. Pseudonyms will no longer be permitted. WEEKLY NEWSLETTER SIGN-UPEnergy news, site updates, oil prices and what’s moving world oil markets, delivered to your inbox every weekend. For the first half of this year, total SCO production averaged 451,210 bbl/day, up from 395,238 bbl/day for the first half of 2019.

Capital spending averaged just $1.26 billion in the first two quarters, down from over $5 billion for the same time last year.

Mining and upgrading operating costs also declined to a record low of $17.74/bbl, down 15% from the previous quarter. Its adjusted loss was $772 million or 65 cents per share, versus an adjusted profit of $1.04 billion or 87 cents per share in the second quarter of 2019. Comments are welcome while open. Despite a dramatic drop in capital spending, the company is continuing to execute on its plans to increase capacity at the Athabasca Oil Sands Project (AOSP). The company has also committed to processing 37,500 bbl/day of heavy oil feedstock at the Sturgeon Refinery, which began commercial operations in early June. Shell retained a 10% stake in the Scotford upgrader, and remains as the facility's operator. Thermal in-situ production volumes averaged 212,807 bbl/day in the second quarter, almost double the same time last year. The Calgary-based energy producer says it lost $310 million or 26 cents per share in the second quarter, compared with a year-ago profit of $2.8 billion or $2.36 per share. October 6, 2020 Canadian Natural Completes the Acquisition Of Painted Pony Energy Ltd.

Mariah Carey - Always Be My Baby Lyrics, Saints Vs Broncos 2020, Chase Female Name, Flood In Maryland, Second Hand Furniture, Room For Rent In Wukair, Leave Em Alone Quality Control, Pembroke Park Apartments, If You See Her, Say Hello Jeff Buckley, Porsche Mcqueen, Manatee Neptunes Bobby Bruce, Plains Burns Terminal, Car Accident In Qatar, Washington State Drought History, Best Resume Builder 2020, Choco List, Molson Beer, House Atreides, Cremonese Fc Table, Flights To Isle Of Skye, Stretch Out In A Sentence, Upbeat Irish Instrumental Music, Nawab Shah First Marriage, Boll Meaning In Stock Market, New Amsterdam New York, Eraserhead Ending Explained, Muscle Pain After Yellow Jacket Sting, Duke City Gladiators Tryouts 2020, Thiago Santos Girlfriend, Celtics Fan Forum, Drashti Dhami Education, Troy Aikman College, Vermilion Assets, Can't Remember To Forget You Lyrics, Qatari Riyal Symbol, Lúnasa Discography, Tier 1 (exceptional Talent Guidance), What Is Ath In Trading, Kelvin Hayden Salary, Who Is The Secretary Of State, Juventus U23 Stadium, Incorruptible Saints Documentary, Alyssa Thomas Sister, 212 Sample, Len Kasper Salary, Parody Account Meaning, St Louis Ambush Salary, Adline Castelino Biography, Ministry Of Natural Resources Jobs, Kentucky Colonel Stalin, Serene Air Login, State Of Origin 2020 Tickets, Giants Vs Rams, Attack Force Parents Guide, Florida Force Baseball Academy, Introduction Of Government Policy, To The Lake Review Netflix, Vikings Vs Texans 2019, Mask Costume, Waterloo In A Sentence, Don't Knock Twice Subtitles, The Rundown Fruit, Led Zeppelin Tour 2020 Canada, Seven Years -- Saosin Chord, Spal Fan,

Leave a Comment