Canadian Natural Resources’ Revenue by Product (2016-2023)
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This statistic highlights Canadian Natural Resources’ Revenue by Product, split between Natural Gas, Crude Oil and NGLs, reported quarterly from Q1 2016 onwards.
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This statistic highlights Canadian Natural Resources’ Revenue by Product, split between Natural Gas, Crude Oil and NGLs, reported quarterly from Q1 2016 onwards.
Canadian Natural Resources Revenue by Product
| Product | 2022 Q1 | 2022 Q2 | 2022 Q3 | 2022 Q4 | 2023 Q1 | Contribution (2023 Q2) |
| Crude oil and NGLs | 10,773,000,000 | 11,727,000,000 | 11,001,000,000 | 9,508,000,000 | 8,412,000,000 | 90.81% |
| Natural Gas | 1,002,000,000 | 1,605,000,000 | 1,342,000,000 | 1,287,000,000 | 851,000,000 | 9.19% |
| Total Revenue | 11,775,000,000 | 13,332,000,000 | 12,343,000,000 | 10,795,000,000 | 9,263,000,000 | 100.00% |
The revenue breakdown by product for Canadian Natural Resources Limited provides insights into the company’s performance in different segments.
Crude Oil and NGLs
The Crude Oil and Natural Gas Liquids (NGLs) segment has consistently been the major revenue driver for Canadian Natural Resources Limited, contributing 90.81% to the total revenue in Q1 2023. However, the revenue from this segment exhibited fluctuations over the quarters, with a notable decline from Q2 2022 to Q1 2023. The decrease can be attributed to several factors impacting the oil and gas industry, including volatile global oil prices, geopolitical tensions, and changes in production levels due to factors such as maintenance and operational decisions.
Natural Gas
The Natural Gas segment represents revenue from sales of natural gas products. While the contribution from this segment is smaller, it has also shown fluctuations from Q2 2022 to Q1 2023. The decline in Q1 2023 can be influenced by factors such as lower demand for natural gas due to milder weather conditions or increased competition from alternative energy sources.
Comparing Q1 2023 to the previous quarters, the total revenue decreased from Q2 2022 to Q1 2023. The significant drop in revenue from the Crude oil and NGLs segment was a primary driver of this decline.
Canadian Natural Resources Limited’s revenue is heavily tied to the performance of the oil and gas markets, making it susceptible to commodity price volatility and market fluctuations. To navigate these challenges and ensure sustainable growth, the company may consider strategies such as optimizing operational efficiencies, reducing costs, and diversifying its revenue streams into renewable energy sources and investing in related technologies.
Company Overview
Canadian Natural Resources Limited (CNRL) is a leading energy company incorporated in 1973 and headquartered in Calgary, Alberta, Canada. The company’s primary goal is to be a responsible and reliable producer of natural resources, including crude oil, natural gas, and natural gas liquids (NGLs). CNRL is committed to sustainable operations, environmental stewardship, and safety.
CNRL is engaged in exploration, development, production, and marketing of energy resources both domestically and internationally. The company’s diverse portfolio includes conventional and unconventional oil and gas assets. CNRL serves a wide range of customers, including energy consumers, industrial users, and petrochemical companies. Additionally, their products are distributed through pipelines, rail, and marine transportation networks to global markets.
With a strong focus on innovation, responsible resource development, and operational excellence, CNRL continues to play a significant role in the energy sector while contributing to Canada’s economic growth and energy security.
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