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By Nia Williams CALGARY, Alberta, May 27 (Reuters) - Canadian Natural Resources Ltd is delaying setting out detailed future spending plans due to uncertainty about the energy policies of Alberta's New Democratic Party government, the company said on Wednesday. Premier Rachel Notley's rookie NDP government swept to power earlier this month, ending 44 years of Progressive Conservative party rule in a win that unsettled many oil industry players. The NDP has pledged to raise corporate taxes and review the complex royalty rate system that governs how much producers in Alberta pay to the province. CNRL, Canada's No 1 independent oil producer, had planned to hold an institutional investor open house on June 17 but said that will be deferred until greater clarity on government policies allows the company to finalize spending plans. "Due to the current uncertainty surrounding the Government of Alberta's review of royalty, taxation, environmental and greenhouse gas policies, detailed future capital allocation plans for each of the Company's assets cannot be finalized at this time," CNRL said in a statement. Instead the company will hold a conference call on June 17 outlining its strategy in the current low oil price environment. (Editing by Jonathan Oatis)
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Canadian Natural Resources Ltd
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PRODUCER |
CODE : CNQ.TO |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Canadian Natural is a producing company based in Canada. Canadian Natural produces oil in Canada, and holds various exploration projects in Canada. Its main asset in production is HORIZON PROJECT in Canada. Canadian Natural is listed in Canada and in United States of America. Its market capitalisation is CA$ 118.3 billions as of today (US$ 94.6 billions, € 82.8 billions). Its stock quote reached its lowest recent point on March 20, 2020 at CA$ 10.50, and its highest recent level on April 17, 2024 at CA$ 106.30. Canadian Natural has 1 112 579 968 shares outstanding. |