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International Oil Company Upstream TSX: CNQ

Canadian Natural Resources

Calgary, Alberta, Canada · Established 1973 · Profile updated July 1, 2026

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Auditor Executive Assessment

Prepared by the Asian Oil Intelligence Desk · Institutional due-diligence memorandum

Canadian Natural Resources Limited (CNRL) is the largest Canadian oil and gas producer by volume, operating oil sands mining (Horizon, Albian), thermal in-situ, and conventional assets across Western Canada. Total production exceeds 1.3 mbpd BOE with long reserve life exceeding 30 years. FY2024 revenue approximated $28 billion with net income near $6 billion. Industry-leading capital efficiency and low sustaining costs across asset classes. Horizon mine expansion and Kirby thermal growth drive...

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