Economic Contributions

Corporate Responsibility

Economic Contributions

Canada and the world need energy to meet the needs of millions worldwide. Healthy and prosperous economies require a secure supply of energy. Canadian Natural provides a significant proportion of Canada’s oil and natural gas. With over 10,000 employees, and operations in Canada, the United Kingdom and Offshore Africa, we take pride in delivering energy in a safe, effective, efficient and environmentally responsible way.

Our company contributes to the economies where we operate through jobs, revenues to governments, spending in goods and services, and other investments.

Being a responsible and sustainable energy producer means that we develop long-term relationships in the communities where we operate. Our activities create value through jobs, revenues to governments, spending in goods and services, 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.

Contributions to governments. All Canadian Natural’s payments to governments are disclosed through the Extractive Sector Transparency Measures Act (ESTMA) in Canada and through the Extractive Industries Transparency Initiative (EITI) for the UK, Côte d’Ivoire and Gabon. For more information visit our Payments to Governments webpage.

Employment creation. The estimated total employment and GDP impacts of our operations and investment program is based on: Canadian Natural estimates of direct and contractor employment, Canadian Natural’s 2016 capital investment program and the Alberta Input-Output model (Alberta Treasury and Finance, 2015. Alberta Economic Multipliers 2011).

Supplier spend.Spend by location:

Energy is essential to our lives

Abundant, affordable, and reliable energy is essential to modern life. In Canada, it is also a key component in creating a robust economy, and maintaining and creating hundreds of thousands of high value jobs. Canada’s oil and natural gas industry is integral to providing the world a safe, secure and environmentally responsible supply of energy and helps ensure necessities of modern life:

Many independent analysts expect demand for crude oil and natural gas to grow, remaining an important part of the global energy mix for the foreseeable future to meet the needs of millions worldwide. As the global population increases, so does the demand for energy.

According to the United Nations’ World Population Prospects: The 2015 Revision document, the current world population of 7.5 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.

According to the International Energy Agency (IEA), all forms of energy are needed to meet growing global energy demand out to 2040, with fossil fuels supplying almost three-quarters of the world’s energy needs. In the main scenario energy demand forecast for World Energy Outlook 2016, the IEA predicts a 31% increase in global energy consumption by 2040, driven by countries like India and China. By 2040, natural gas use increases 49% while oil demand increases 12%.

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, and is a politically stable, reliable and responsible energy source to global markets. Approximately 97% of Canada’s oil reserves are located in Alberta’s oil sands.

In this context, the global challenge will be to continue delivering abundant, affordable and reliable energy to meet the world’s energy needs, while reducing GHG emissions. As oil and natural gas production increases, industry remains focused on improving efficiencies and limiting emissions through innovation and technology. Canadian oil and natural gas, which is produced under some of the highest standards in the world, can be a preferred environmentally responsible global source, and an important part of a lower carbon energy future.

At Canadian Natural, we are committed to an energy future that protects the environment, jobs and investment by leveraging innovation and technology. Read our Climate change leadership section.