Canadian Natural earmarks 2026 capital for early work on oilsands expansions
Advertisement
Read this article for free:
or
Already have an account? Log in here »
We need your support!
Local journalism needs your support!
As we navigate through unprecedented times, our journalists are working harder than ever to bring you the latest local updates to keep you safe and informed.
Now, more than ever, we need your support.
Starting at $15.99 plus taxes every four weeks you can access your Brandon Sun online and full access to all content as it appears on our website.
Subscribe Nowor call circulation directly at (204) 727-0527.
Your pledge helps to ensure we provide the news that matters most to your community!
To continue reading, please subscribe:
Add Brandon Sun access to your Free Press subscription for only an additional
$1 for the first 4 weeks*
*Your next subscription payment will increase by $1.00 and you will be charged $20.00 plus GST for four weeks. After four weeks, your payment will increase to $24.00 plus GST every four weeks.
Read unlimited articles for free today:
or
Already have an account? Log in here »
CALGARY – Oil and gas giant Canadian Natural Resources Ltd. says it’s expecting a small increase in spending and production in 2026 as it looks toward future oilsands expansions.
The Calgary-based company says its capital budget for next year has been set at about $6.43 billion, up from the $6.15 billion it had targeted for 2025.
That includes $175 million in early-stage engineering and design work on expansions to two steam-driven projects and the Jackpine mine in Alberta’s oilsands.
Canadian Natural has also set aside $125 million for carbon capture projects.
Production is forecast to average between 1.59 million and 1.65 million barrels of oil equivalent per day, about a three per cent increase over this year’s expected levels.
Roughly three quarters of next year’s output is expected to come from oil and other liquids, with the rest from its natural gas holdings.
This report by The Canadian Press was first published Dec. 16, 2025.
Companies in this story: (TSX:CNQ)