Monday, August 24, 2015

Canadian Natural Resources - CNQ.t

Canadian Natural Resources - CNQ.t is one of the largest independent crude oil and natural gas producers in the world.

The company has a diversified combination of assets in North America, the North Sea and Offshore Africa with a mix of natural gas, light oil, heavy oil, in-situ oil sands production, oil sands mining and associated upgrading facilities.

On August 6, 2015 the media reported News

"The Globe and Mail reports in its Thursday, Aug. 20, edition that the price of oil dropped to its weakest point in six years on Wednesday, dragging Canadian energy stocks to their lowest in more than a decade as investors grow increasingly worried about plunging profits in the sector. The Globe's Carrie Tait writes that West Texas intermediate closed at $40.80 (U.S.) a barrel Wednesday. This week, Western Canadian Select oil sands crude fetched about $18.70 (U.S.) less than WTI. As a result, the S&P/TSX energy subindex fell more than 4 per cent. The unexpected increase in crude oil inventory in the United States served as the catalyst for Wednesday's slide. Further, the U.S. Energy Information Administration said it expects production in North America to decrease through to mid-2016. The year-long slump means energy companies across the board have lost their ability to lock in more favourable prices for their future production, a strategy known as hedging and one that has helped some oil and gas firms skate through the slump. Further, troubled companies that have been trying to sell their less desirable assets may be forced to part with their more valuable projects to survive."