Canadian Natural says oil sands expansions paused until government agreements finalized - BNN Bloomberg
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Article Excerpt
Canadian Natural Resources will not move ahead with any mid- to long-term oil sands expansion projects until the details of a recently signed memorandum of understanding with the Canadian and Alberta governments are cemented in binding legal agreements, the company’s CEO said on Thursday.
This means that the company’s approximately $650 million, 30,000-barrel-per-day Jackfish project and its approximately $2.5 billion, 70,000-bpd Pike 2 project remain on hold, as do longer-term projects such as the proposed 150,000-bpd Jackpine mine expansion, CEO Scott Stauth told a conference call.
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Aug 8, 2026