Canadian Natural Resources (CNR) recorded pre-tax losses of £1.14 billion in the first six months of 2020 on the back of lower prices.
Canadian Natural Resources
The Murchison platform has been removed from the North Sea and brought ashore two years ahead of schedule.
Major North Sea oil firms will have to cap their global spending by as much as 70% if international climate change targets are to be met, a financial think tank has warned.
Canadian Natural Resources (CNR) said yesterday that it plans to start decommissioning the Ninian North platform in June 2017.
Canadian Natural Resources (CNR) said today that it plans to start decommissioning the Ninian North platform next month.
Energy firm Canadian Natural Resources (CNR) said today its North Sea oil production rose by 6% to 23,554 barrels a day in 2016 as it continued to slash operating costs.
In decommissioning, as in life, there are winners and there are losers.
North Sea oil and gas firm Canadian Natural Resources (CNR) will boost its drilling programme in the basin after stating it was “is now a more robust and sustainable company”.
Canadian Natural Resources has raised $200million after selling off a non-core asset.
Canadian Natural Resources (CNR) today said it had cut its costs by about CAN $430million (£250million) in the first half of 2016 thanks to a “commitment to effective and efficient operations”. The savings helped the Calgary-headquartered firm narrow its net losses to £260million from £380million during the same period a year earlier. CNR's North Sea assets include the Ninian, Banff, Murchison and Tiffany fields.
Canadian Natural Resources has shut down production on its Ninian South platform after a fire on board the North Sea installation.
Canadian Natural Resources reported a smaller quarterly loss as cost cuts paid off amid a slump in oil prices.
Canadian Natural Resources reported an 89% fall in quarterly profit, hurt by weak oil and gas prices.
Canadian Natural Resources Ltd.’s profit beat analyst estimates after it deepened cost cuts to cope with crude prices near the lowest in six years. It reported adjusted earnings of 10 cents a share, compared with the average 9-cent loss estimated by 16 analysts surveyed by Bloomberg. The third-quarter net loss was C$111 million ($84.3 million), or 10 cents a share, compared with profit of C$1.04 billion, or 94 cents, a year earlier, the Calgary-based company said in a statement Thursday. “We continue to make significant progress in reducing costs,” Steve Laut, President of Canadian Natural, said in the statement. “At the same time, our average production has increased 11% despite a very significant drop in capital program spending.”
Canadian Natural Resources, which owns several fields in the North Sea, has reported a second-quarter loss of $405million compared to a $1billion profit a year earlier.