industrialinfo.com - Canadian Natural Resources Prepares for Start-Up of Horizon Oil Sands Project

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Canadian Natural Resources Prepares for Start-Up of Horizon Oil Sands Project

SUGAR LAND--November 13, 2008--Researched by Industrial Info Resources (Sugar Land, Texas)--Canadian Natural Resources Limited (NYSE:CNQ) (Calgary, Alberta) has announced that the company is still targeting first synthetic crude oil production from its Horizon Oil Sands Project by the end of the year. Most aspects of the project are complete, including the mining operation, which has already delivered 300,000 metric tons of oil sands to the plant for equipment-testing purposes. Phase I of the project will produce 110,000 barrels per day (BBL/d) of crude oil. With the winding down of Phase I of the Horizon project and the recently completed 40,000 BBL/d expansion of the company's Primrose East facility, Canadian Natural has plans to significantly reduce capital expenditure in 2009.

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Industry Segment: Petroleum Refining
Word Count: 555 Words

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