CANADIAN NATURAL RESOURCES Ltd
Margins and return on equity change in percentage points; everything else in percent. Fewer shares and less debt are shown plainly, not as bad news — it depends what you make of buybacks. On smaller screens the strip keeps revenue, net income, return on equity and shares; the rest are on the Financials tab.
What CANADIAN NATURAL RESOURCES Ltd does
In the company’s own words
Canadian Natural Resources Limited (TSX: CNQ; NYSE: CNQ) is a senior independent energy company engaged in the acquisition, exploration, development, production, marketing and sale of crude oil, natural gas and natural gas liquids. The company's website is www.cnrl.com.
The company operates across three primary geographic regions: western Canada, the UK sector of the North Sea, and Offshore Africa. Canadian Natural maintains a diversified product portfolio that includes synthetic crude oil from oil sands mining and upgrading operations, natural gas, light and medium crude oil, thermal bitumen, primary heavy crude oil, and Pelican Lake heavy crude oil. In 2025, synthetic crude oil accounted for 36 percent of annual production, natural gas represented 27 percent, light and medium crude oil and natural gas liquids comprised 11 percent, thermal bitumen accounted for 17 percent, primary heavy crude oil represented 6 percent, and Pelican Lake heavy crude oil made up 3 percent of production.
The company operates through distinct business segments including North America Exploration and Production, North America Oil Sands Mining and Upgrading, and North Sea and Offshore Africa operations. Canadian Natural also maintains midstream assets comprising two operated pipeline systems and a 50 percent working interest in a cogeneration plant, along with a 50 percent equity interest in the North West Redwater Partnership.
As of December 31, 2025, Canadian Natural employed 10,750 full-time equivalent permanent employees distributed across its operations: 3,068 in North America Exploration and Production, 4,970 in North America Oil Sands Mining and Upgrading, 302 in the North Sea and Offshore Africa, and 2,410 in corporate functions.
The company has contracted pipeline capacity for approximately 22 percent of its liquids production, including capacity on the Flanagan South pipeline, Keystone Base pipeline, and Trans Mountain Expansion pipeline. Canadian Natural markets its Canadian crude oil production to purchasers in Canada and internationally, with natural gas distributed through major Canadian pipeline systems and offshore production sold primarily into European markets. The company has grown through a combination of internal development and strategic acquisitions, including significant 2024 and 2025 acquisitions that expanded its oil sands and conventional crude oil positions.
- Sector
- Energy
- Industry
- Oil & Gas Extraction
- Headquarters
- CALGARY
- Fiscal year end
- December
- CIK
- 1017413
- SIC
- 1311
Financial performance, year by year
Fiscal 2020–2025 · USDThe full income statement, balance sheet and cash flow for each of these years — every figure traceable to its filing — is on the Financials tab with a free account.
Recent filings
All filings →Each filing opens into its own statements and disclosures here.
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