Canadian Natural update
Canadian Natural Resources Ltd (CNQ.TO), the country’s biggest independent oil explorer, reported that it is buying into a multibillion-dollar upgrading plant that was stalled by the financial crisis, the latest in a raft of announcements showing the oil sands sector on the rebound.
The press release is quoted as saying:
Canadian Natural, one of Alberta’s largest producers of heavy oil and oil sands, will buy 50 percent of privately held North West Upgrading Inc, which plans to build an upgrader near Edmonton, Alberta, for an undisclosed sum.
Click here to access the entire press release
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Fri, Jan 29, 2010
Post by Melissa Pistilli, Heavy Oil Senior Reporter