Oil and Gas News - Oil and gas budget cut one-third - Toronto Star

Canadian Natural Resources plans to cut its natural gas drilling in Alberta by 44 per cent, gas output by 12 per cent and its Canadian capital spending by one-third next year, citing the impact of higher Alberta royalties on energy production. The Calgary-based company said that its budget for Canadian conventional crude oil and natural gas capital spending will fall to $1. In October, Alberta Premier Ed Stelmach said the province would go ahead with some of a royalty panel’s recommendations, choosing to take $1. Alberta energy department spokesperson Bob McManus defended the new royalty plan, saying it’s not at fault for the downturn in the natural gas sector. Once considered a disease of middle age, a diabetes ‘epidemic’ is sweeping Ontario, afflicting people of all age groups and . read more

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