Canadian Natural Resources Allots 2023 Capex for Annual Production Increase, Growth Projects

December 5, 2022--Researched by Industrial Info Resources (Sugar Land, Texas)--Oil and gas producer Canadian Natural Resources Limited (NYSE:CNQ) (CNRL) (Calgary, Alberta) said last week it is planning a capital investment budget of C$5.2 billion (US$3.8 billion) for 2023, with C$4.2 billion (US$3.1 billion) allocated for production growth throughout the year (base capital) and the remaining C$1 billion (US$744 million) for strategic growth projects. Industrial Info is tracking nearly US$30 billion worth of active projects from CNRL, including more than US$1 billion worth under construction.