Canadian Natural Resources Defers $8.25 Billion Jackpine Oilsands Expansion Amid Regulatory Uncertainty
Canadian Natural Resources Ltd. has postponed its $8.25 billion expansion of the Jackpine oilsands mine in Alberta due to uncertainty surrounding federal carbon pricing and methane emissions regulations. The company is reducing its 2026 operating and capital expenditures by $310 million, which includes halting early engineering work on the project. Canadian Natural also reported a fourth-quarter profit of $5.3 billion and raised its quarterly dividend to 62.5 cents per share.
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Canadian Natural Resources Ltd. has deferred its planned $8.25 billion expansion of the Jackpine oilsands mine in Alberta, citing uncertainty over carbon pricing and methane emissions regulations. The company is cutting its forecast operating and capital expenditures for 2026 by $310 million, including the suspension of early engineering work for the Jackpine project.
Canadian Natural will reassess the project's viability once regulatory policies are clearer. In recent financial results, the company reported a fourth-quarter profit of $5.3 billion and increased its quarterly dividend to 62.5 cents per share.
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