Canada and the world need energy. Healthy and prosperous economies require a secure supply of energy. Canadian Natural provides a significant proportion of Canada’s oil and natural gas. We are committed to delivering that energy in a safe, effective, efficient and environmentally responsible way across our operations in Canada, the United Kingdom, and Offshore Africa. Responsible energy development means mobility, environmental stewardship, jobs, and better quality of life.
Being a responsible and sustainable energy producer means that we develop long-term relationships in the communities where we operate. Our activities create value by providing employment, business development opportunities and essential resources for public services, including health, safety, education and training. Canadians from all regions participate directly and indirectly in the development of our projects. Major expenditures across the country, and beyond, promote both short and long-term economic growth.
Our company contributes to the economies where we operate through jobs, revenues to governments, spending in goods and services, and other investments. The 2015 distribution of expenditures is detailed in the tables below.
Energy is essential to our lives
At Canadian Natural, we are proud to delivering energy to Canada and the world in a safe, affordable, reliable and efficient way. Global demand for oil and natural gas is expected to grow to meet the needs of millions worldwide.
The current global population of 7.4 billion is expected to reach 9.7 billion by 2050 with the growth projected to occur primarily in developing nations in Africa and Asia, as well as in the USA. As the standard of living improves within developing nations, the demand for energy is projected to increase.
The International Energy Outlook 2016 (IEO2016) Reference case released by the Energy Information Administration (EIA), projects significant growth of 48 per cent in worldwide energy demand, from 549 quadrillion British thermal units (Btu) in 2012 to 815 quadrillion Btu in 2040. As the demand for energy rises, the amount of oil and natural gas produced will need to increase substantially to satisfy the demand. Oil and natural gas are, and will continue to be, primary sources of energy.
Canada has the world’s third largest oil reserves and the world’s fifth largest natural gas reserves. It is able to provide a politically stable, reliable and responsible source of oil and natural gas to global markets. Approximately 97% of Canada’s oil reserves are located in Alberta’s oil sands.
As a responsible operator, we are committed to creating value for our shareholders, for our stakeholders, and the communities in which we operate, by investing in people, processes, and innovation.