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Orca Plant: The World s Largest Carbon Capture Facility
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Increasing blue hydrogen production affordability
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Dan Healing
Canadian Natural Resources Ltd. logo is shown at the company s annual meeting in Calgary on May 3, 2012. THE CANADIAN PRESS/Jeff McIntosh May 06, 2021 - 11:49 AM
CALGARY - Higher oil and gas prices, record production and a restrained capital spending budget will result in bountiful free cash flow for Canadian Natural Resources Ltd. this year, the oilsands company said Thursday.
In its first-quarter results, the Calgary-based company said it expects to generate between $5.7 billion and $6.2 billion of positive cash flow in 2021 after paying for a $3.2-billion capital budget and about $2.2 billion in dividends.
In keeping with other big oilsands producers, however, Canadian Natural says it plans to spend the money mainly on reducing debt, not taking on big projects to increase oil and gas production.
In keeping with other big oilsands producers, however, Canadian Natural says it plans to spend the money mainly on reducing debt, not taking on big projects to increase oil and gas production. If we do anything, I suspect it will be very small, we ll leverage off of our facilities. We re doing drill-to-fill (processing plants) on the gas side, you know; with the oil side, it would be essentially brownfield, small developments, president Tim McKay told a conference call with analysts. I just don t really see … anybody in the industry really getting aggressive on any kind of major capital program.
Most of its capital budget for 2021 is aimed at sustaining operations, but about $200 million is considered growth capital and is expected to result in a five per cent increase in output, McKay said.
Alberta asks federal government to commit $30B to advance carbon capture technologies
Alberta is asking the federal government for $30 billion in funding to explore carbon capture, utilization and storage technologies, the premier’s office has confirmed.
Social Sharing No feasible way to meet federal government s net zero emissions targets without CCUS technology, Kenney says
Posted: Mar 08, 2021 4:19 PM MT | Last Updated: March 9 We have been world leaders in the (CCUS) technology … [and] we re at risk of falling behind if we don t up our game. That s going to require major investments, Premier Jason Kenney said at a press conference on Monday.(Jason Franson/Canadian Press)
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