CNRL starts contractor race on Ninian decommissioning campaign
Contract race also started 60-well P&A campaign for Spirit Energy
Canadian Natural Resources
THREE60 Energy hires experienced projects director
Aberdeen-based THREE60 Energy has revealed a “strategic addition” to its engineering, procurement, construction and commissioning (EPC&C) arm.
S&P swings downgrade axe on energy majors amid transition
S&P Global Ratings has downgraded its outlook for a number of energy majors, driven by concerns around the energy transition and pressure on profitability.
HMRC boosts projected decommissioning tax relief for oil firms by £1.1billion
HMRC has boosted projections by £1.1billion for the amount of tax repayments it expects to give oil firms for North Sea decommissioning.
Canadian Natural Resources swings to profit in Q3
Canadian Natural Resources has swung to profits of £244million in the third quarter after posting heavy losses earlier in the year due to Covid.
CNR falls to loss of £1.14bn, Banff field reaches end of the line
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.
North Sea unexploded device still sitting next to Ninian Central Platform
Offshore removal phase for Murchison completed
The Murchison platform has been removed from the North Sea and brought ashore two years ahead of schedule.
Think-tank delivers climate change warning to oil majors
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.
CNR to start scrapping Ninian in June, Statoil among Q1 winners
Canadian Natural Resources (CNR) said yesterday that it plans to start decommissioning the Ninian North platform in June 2017.
CNR aims to start Ninian North decommissioning in June
Canadian Natural Resources (CNR) said today that it plans to start decommissioning the Ninian North platform next month.
CNR slashes North Sea production costs to below $42 per barrel
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.
Decom series: AF Gruppen targets single lift market after Janice, Murchison success
In decommissioning, as in life, there are winners and there are losers.
“Robust” CNR reveals North Sea drilling plans
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 raises $200million through sale
Canadian Natural Resources has raised $200million after selling off a non-core asset.
Canadian Natural Resources cuts £250m from first half costs
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.
CNR shuts down Ninian South platform after fire on board
Canadian Natural Resources has shut down production on its Ninian South platform after a fire on board the North Sea installation.
CNR’s focus on cost cutting helps trim loss in first quarter
Canadian Natural Resources reported a smaller quarterly loss as cost cuts paid off amid a slump in oil prices.
CNR sees profits fall by 89%
Canadian Natural Resources reported an 89% fall in quarterly profit, hurt by weak oil and gas prices.
Canadian Natural Resources beat estimates as cuts deepen
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 posts $405million second quarter loss
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.