Canadian Natural Pauses Oil Sands Expansion on Policy Uncertainty -- Market Talk

Dow Jones

Mar 06

0920 ET - Canadian Natural Resources hit pause on a C$8.25 billion expansion of an oil sands mine in northern Alberta, citing uncertainty over government policies. It is part of what analysts say is an only modest reduction in the energy's company's near-term organic spending plans, and comes not long after Canadian Natural stumped up about C$765 million for assets in Alberta's Peace River area. But it does cast the spotlight on Ottawa. The company says it is deferring front-end engineering and design work on its Jackpine mine expansion, and will only reassess the viability of the project when there is certainty on regulatory policies related to carbon pricing and methane and on project timing. The company's targeted operating capex for 2026 falls by about C$310 million. (robb.stewart@wsj.com)

(END) Dow Jones Newswires

March 06, 2026 09:21 ET (14:21 GMT)

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It is part of what analysts say is an only modest reduction in the energy's company's near-term organic spending plans, and comes not long after Canadian Natural stumped up about C$765 million for assets in Alberta's Peace River area. But it does cast the spotlight on Ottawa. The company says it is deferring front-end engineering and design work on its Jackpine mine expansion, and will only reassess the viability of the project when there is certainty on regulatory policies related to carbon pricing and methane and on project timing. The company's targeted operating capex for 2026 falls by about C$310 million. 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It is part of what analysts say is an only modest reduction in the energy's company's near-term organic spending plans, and comes not long after Canadian Natural stumped up about C$765 million for assets in Alberta's Peace River area. But it does cast the spotlight on Ottawa. The company says it is deferring front-end engineering and design work on its Jackpine mine expansion, and will only reassess the viability of the project when there is certainty on regulatory policies related to carbon pricing and methane and on project timing. The company's targeted operating capex for 2026 falls by about C$310 million. 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It is part of what analysts say is an only modest reduction in the energy's company's near-term organic spending plans, and comes not long after Canadian Natural stumped up about C$765 million for assets in Alberta's Peace River area. But it does cast the spotlight on Ottawa. The company says it is deferring front-end engineering and design work on its Jackpine mine expansion, and will only reassess the viability of the project when there is certainty on regulatory policies related to carbon pricing and methane and on project timing. The company's targeted operating capex for 2026 falls by about C$310 million. (robb.stewart@wsj.com) \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  March 06, 2026 09:21 ET (14:21 GMT)\n\n\n  Copyright (c) 2026 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"policyRegulatory","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}