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Globe and Mail
7 hours ago
- Business
- Globe and Mail
Calgary-based oil giant appeals fine over wildlife deaths in tailings pond
Canadian Natural Resources Ltd. CNQ-T is appealing a $278,000 fine for a major environmental infraction that killed birds and endangered coyotes and wolves near its Horizon oil sands mining operation in Northern Alberta. The Alberta Energy Regulator levied the fine in July last year. Tyler Callicott, its director of enforcement, wrote in a judgment that the Calgary-based oil giant failed to take all reasonable steps to prevent wildlife from coming into contact with toxic tailings at the oil sands site. But the oil company says the regulator erred in applying pertinent legislation and, as a result, issued a penalty that was far too high. It wants the regulator to reduce the fine by more than 80 per cent, to $46,750. Canadian Natural's net earnings were $7.4-billion in 2024. The fine stems from CNRL's lack of action after it discovered that an island had formed in a tailings pond at Horizon in the spring of 2021. Tailings ponds contain process-affected water and bitumen that is toxic to wildlife – both to birds, which lose their insulation, waterproofing and ability to fly when heavily oiled, and to the predators that eat them. No birds were nesting on the island when CNRL first noticed it in 2021, so the company continued with its usual bird-deterrent activities until the island was eventually submerged by rising water. It made no effort to eliminate the island or manage the level of water to prevent its re-emergence, according to a written decision from the regulator. In the spring of 2022, the island re-emerged and became a habitat and nesting site for birds - and their predators, such as wolves and coyotes, which could access the island through a strip of shallow water. Canadian Natural reports first-quarter profit beat and record oil and gas output On May 21, 2022, CNRL discovered 271 California gull nests and a Canada goose nest on the island. Two weeks later, it notified the regulator of the formation of the island and measures it was taking to prevent birds from coming into contact with toxic tailings. 'These, and subsequent, mitigation measures were not effective in preventing animals from coming into contact with a hazardous substance,' the AER's Mr. Callicott wrote in his decision. The regulator deemed the incident major, given that CNRL reported 411 bird fatalities between May and August of 2022, and that coyotes and wolves accessed the island through the water of the tailings facility and killed oiled birds. In a 114-page appeal lodged on May 6, CNRL argued that a hazardous substance must 'come into contact with or contaminate' an animal for an offence to have occurred, according to environmental rules. But for a portion of the contravention period there was no proof of oiled birds, CNRL argued in its appeal. Instead, the regulator said in its judgment that it was only 'likely or inevitable' that birds were contaminated by the toxic tailings pond, because nests were present on the island. When the regulator relied on 'likely or inevitable' contamination, it issued a penalty for 76 days, from - May 21, 2022, when the first gull nests were identified, until Aug. 4, 2022, when the gulls had all left the island. But given there were only 13 days when oiled birds were identified, CNRL said the penalty should be capped to that time period. The company acknowledged in its appeal that the incident was significant. But it argued that the base penalty should be reduced owing to Canadian Natural's 'good faith and mitigation measures in response to the incident.' Oral final arguments on the appeal will be held on June 18.
Globe and Mail
02-06-2025
- Business
- Globe and Mail
Wildfires force Alberta oil sands producers to evacuate workers, stop some oil flows
Three major oil sands producers have evacuated workers from sites in Northern Alberta as wildfires ravage the region. On Saturday, Canadian Natural Resources Ltd. CNQ-T said it had evacuated workers from its Jackfish 1 operation about 180 kilometres south of Fort McMurray, and temporarily halted roughly 36,500 barrels per day of bitumen production. The company said all workers are safe and accounted for with no reported injuries, and have been relocated to other CNRL facilities. Also on Saturday, MEG Energy Corp. MEG-T said it had evacuated all non-essential personnel from its Christina Lake Regional Project production facility in response to a wildfire south of the site. The fire knocked out power lines that connect the site to Alberta's electric grid. Christina Lake, roughly 160 kilometres south of Fort McMurray, has power cogeneration capabilities, so it is continuing to produce oil. But MEG said the power outage has delayed startup of its next phase of operations at the site, which represents roughly 70,000 barrels per day of production. MEG said it is working with its third-party power provider to restore grid connection and return to full capacity. 'The safety of our people and protection of our assets remain our top priorities, and there is no immediate risk to either,' Darlene Gates, MEG's chief executive, said in a statement. 'We are working closely with authorities and coordinating with our industry peers to support each other and resume normal operations.' Last week, Cenovus Energy Inc. CVE-T restricted workers at its Christina Lake oil sands site to essential personnel, and shut-in approximately 238,000 barrels a day of production. The company said Sunday it had inspected the site and is not aware of any damage to its infrastructure. It anticipates a full restart of Christina Lake operations in the near future, as soon as its safe to do so. All companies said they were closely monitoring the overall wildfire situation in Alberta and thanked firefighters and emergency management teams. Out-of-control wildfires blazed through northern Alberta last summer, prompting a ream of evacuations from various oil sands sites. The massive wildfire that destroyed part of Fort McMurray in May, 2016, resulted in oil sands production losses as high as one million barrels a day at the height of the disaster. The production outage caused by the wildfire resulted in a 14-per-cent decline of crude oil exports loaded in Alberta. The resulting economic impact was so severe that Canadian GDP contracted 0.4 per cent in the second quarter of 2016. Economists said GDP would have grown 0.1 per cent that quarter, were it not for the effect of wildfires on Canadian oil production.
Calgary Herald
26-05-2025
- Climate
- Calgary Herald
Wildfires erupt near northern Alberta oil well sites
Article content Hot weather sparked a string of wildfires around Alberta over the weekend, including some near oil and gas wells operated by Canadian Natural Resources Ltd. and others. Article content Article content Three out-of-control fires were burning in Alberta at noon Monday, including a 1,606-hectare blaze that prompted an emergency alert for the town of Swan Hills. That fire, burning eight kilometres from the town, is less than half a kilometre away from a CNRL-operated well site and within 20 kilometres of separate well sites operated by CNRL and other companies. Article content Canadian Natural didn't respond to a message seeking comment left late Sunday. Alberta Wildfire didn't respond to a phone call seeking comment. Article content An evacuation notice has been issued for Swan Hills, with residents in affected areas advised to prepare for a possible evacuation by gathering pets, important documents, medication and enough food, water and supplies for at least three days as well as adding fuel to vehicles. Article content This is an Alberta Emergency Alert. The Town of Swan Hills has updated a wildfire alert. A wildfire is burning 8 km North of the Town of Swan Hills. A one hour evacuation notice has now been put in place for the Town of Swan Hills. Everyone in the affected area should prepare… — Alberta Emergency Alert (@AB_EmergAlert) May 26, 2025 Article content Earlier this month, the province cancelled a planned Emergency Alert test due to increased wildfire activity. The alert has been used frequently to announce fires and evacuations in northern Alberta communities including Sturgeon County, Yellowhead County, Athabasca County, Parkland County, Hamlet of Fawcett and the Summer Village of Larkspur. Article content Article content Other communities, including the Village of Boyle and Thorhild County, issued local state of emergencies in May as a result of fast-moving and out-of-control fires. Article content Wildfire expert and professor at Thompson Rivers University in Kamloops, Mike Flannigan, has warned that Alberta's expected dry, hot summer increases potential for a busy fire season. Article content 'The forecast can be wrong, but right now it's supposed to be a hot, dry summer, especially in the south of Alberta,' he said, adding that a hot, dry summer generally means more fire. Article content The Bow Valley or Kananaskis Country is overdue for a big fire at some point, he said. Article content 'I'm not saying it's going to be this year, but I'm saying it's been primed for some time and one of these days we are going to see a big fire in that corridor,' said Flannigan. Article content Last year's fire in Jasper has experts fearing for a similar catastrophe in Banff. Article content 'It's just so primed to burn, you can't stop it — I don't think Banff has time,' Cliff White, a former Parks Canada forestry scientist, said last summer. Article content A wildfire in the area would be devastating, dwarfing the mega costs of the 2024 Jasper wildfire. Economic devastation would be amplified due to the Bow Valley's much larger population and visitor numbers. Article content That would also mean an increased chance of injuries or deaths of people, along with a bevy of negative impacts on the environment, wildlife, tourism, insurance rates, transportation and commerce, since vital rail lines and the Trans-Canada Highway run right through the area. Article content Wildfires present a regular threat to the province's oil and gas production, typically from March through October. Fort McMurray, the largest population center near Alberta's massive oilsands operations, was heavily damaged by a blaze in 2016 that forced thousands to evacuate and temporarily shut more than one million barrels of daily oil output.
Bloomberg
26-05-2025
- Climate
- Bloomberg
Wildfires Erupt Near Alberta Oil Well Sites as Temperatures Rise
Hot weather sparked a string of wildfires around Alberta over the weekend, including some near oil and gas wells operated by Canadian Natural Resources Ltd. and others. Five out-of-control fires were burning in Alberta early Monday, including a 1,606-hectare blaze that prompted an emergency alert for the town of Swan Hills. That fire is about half a kilometer away from a CNRL-operated well site and within 20 kilometers of separate well sites operated by CNRL and other companies.
Yahoo
11-05-2025
- Business
- Yahoo
Canadian Natural Resources (TSX:CNQ) Reports Strong Q1 Earnings With C$10.9 Billion Revenue
Canadian Natural Resources recently reported first-quarter 2025 earnings that showed strong financial performance, with revenue and net income significantly improving compared to the previous year. The company's share price rose 17% over the last month, aligning with broader market trends where indexes posted mixed movements in anticipation of trade talks between the U.S. and China. While market sentiment has been cautiously optimistic, Canadian Natural Resources' impressive earnings likely added weight to the upward momentum in its stock price, enhancing investor confidence amid fluctuating global market conditions. Be aware that Canadian Natural Resources is showing 1 possible red flag in our investment analysis. Explore 22 top quantum computing companies leading the revolution in next-gen technology and shaping the future with breakthroughs in quantum algorithms, superconducting qubits, and cutting-edge research. The recent earnings announcement from Canadian Natural Resources, highlighting strong financial performance, aligns with the company's ongoing operational improvements. This focus on expanding production capacity and enhancing efficiency has shifted investor sentiment positively, which may be reflected in the revenue and earnings forecasts. Over the five years, the company's total return—including share price and dividends—rose by 368.91%, indicating substantial long-term shareholder value. However, in comparison to the past year's performance, the company's returns underperformed the Canadian Oil and Gas industry, which experienced a 3.8% decline, and lagged behind the broader Canadian Market's 10.6% gain over the same period. With the current share price at CA$40.55, the recent market movement still places it below the analyst consensus price target of CA$50.53, suggesting potential upside if earnings and production forecasts are realized. The company's strategic acquisitions and production enhancements could further influence earnings forecasts, as analysts anticipate revenues may rise to CA$39.5 billion by 2028, supporting the upward revision of share price targets. However, potential impacts from tariffs and regulatory changes remain risks to this outlook. As the share price continues to interact with the suggested price target, stakeholders should consider these evolving market dynamics and the company's strategic initiatives in their evaluation. Jump into the full analysis health report here for a deeper understanding of Canadian Natural Resources. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include TSX:CNQ. Have feedback on this article? Concerned about the content? with us directly. Alternatively, email editorial-team@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
