CNQ Profile
Canadian Natural Resources Limited, headquartered in Calgary, Canada, operates as a diversified energy company engaged in the acquisition, exploration, development, production, marketing, and sale of crude oil, natural gas, and natural gas liquids (NGLs) globally. Established in 1973 and previously known as AEX Minerals Corporation, the company rebranded to Canadian Natural Resources Limited in December 1975 to reflect its expanded focus and strategic direction.
The core of Canadian Natural Resources' operations encompasses a wide spectrum of hydrocarbon products, including synthetic crude oil (SCO), light and medium crude oil, bitumen (thermal oil), primary heavy crude oil, and Pelican Lake heavy crude oil. These resources are vital components in meeting global energy demands and supporting various industrial applications.
In addition to its upstream activities, Canadian Natural Resources maintains significant midstream and refining assets. These include ownership stakes in two crude oil pipeline systems and a 50% working interest in an 84-megawatt cogeneration plant located at Primrose. These assets enhance operational efficiency and contribute to the company's integrated energy strategy.
With operations primarily concentrated in Western Canada, the United Kingdom's North Sea region, and offshore Africa, Canadian Natural Resources holds substantial reserves. As of December 31, 2020, the company's total proved reserves of crude oil, bitumen, and NGLs amounted to 10,528 million barrels (MMbbl), with total proved plus probable reserves reaching 13,271 MMbbl. Furthermore, the company boasts significant natural gas reserves, including proved reserves of 12,168 billion cubic feet (Bcf) and total proved plus probable reserves of 20,249 Bcf, underscoring its robust position in the global energy sector.
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