North America was the largest of CANADIAN NATURAL RESOURCES Ltd’s 3 reported lines in fiscal 2021, at $23.11B — 96% of $24.16B.
| Geography | FY 2016 | FY 2018 | FY 2019 | FY 2021 |
|---|---|---|---|---|
| North America | $16.07B | $17.35B | $23.11B | |
| North Sea | $891.00M | $920.00M | $611.00M | |
| Offshore Africa | — | — | $438.00M | |
| Total | $16.96B | $18.27B | $24.16B |
In fiscal 2021, which ended December 31, 2021, the 3 regions CANADIAN NATURAL RESOURCES Ltd reported in this breakdown added up to $24.16B. The regions reported changed from fiscal 2019, so the total is not directly comparable with the $18.27B reported that year. North America was the largest region, at $23.11B or 95.7% of the total, followed by North Sea ($611.00M, 2.5%) and Offshore Africa ($438.00M, 1.8%). Together, the two largest regions made up 98.2% of this total.
Compared with fiscal 2019, the latest earlier year reported, North America grew the fastest, rising 33.2% to $23.11B. North Sea fell the most, down 33.6% to $611.00M. Because regions were added or dropped between the two years, part of this reflects how CANADIAN NATURAL RESOURCES Ltd regrouped its reporting.
This breakdown covers 4 fiscal years between 2016 and 2021, as reported in CANADIAN NATURAL RESOURCES Ltd's annual filings.
Oil Sands Mining & Upgrading was the largest of CANADIAN NATURAL RESOURCES Ltd’s 5 reported lines in fiscal 2023, at $18.66B — 51% of $36.60B.
| Segment | FY 2015 | FY 2016 | FY 2017 | FY 2018 | FY 2020 | FY 2022 | FY 2023 |
|---|---|---|---|---|---|---|---|
| North America | $7.48B | $20.76B | $17.38B | ||||
| Oil Sands Mining & Upgrading | $7.39B | — | $18.66B | ||||
| Total Segments | — | $5.24B | — | ||||
| North Sea | $417.00M | $623.00M | $435.00M | ||||
| Offshore Africa | $318.00M | $55.00M | $51.00M | ||||
| Midstream | — | — | — | ||||
| Midstream & Refining | $83.00M | $80.00M | $76.00M | ||||
| Total | $15.69B | $26.75B | $36.60B |
In fiscal 2023, which ended December 31, 2023, the 5 segments CANADIAN NATURAL RESOURCES Ltd reported in this breakdown added up to $36.60B. The segments reported changed from fiscal 2022, so the total is not directly comparable with the $26.75B reported that year. Oil Sands Mining & Upgrading was the largest segment, at $18.66B or 51.0% of the total, followed by North America ($17.38B, 47.5%) and North Sea ($435.00M, 1.2%). Together, the two largest segments made up 98.5% of this total.
Over fiscal 2020 to 2023, revenue across these segments went from $15.69B to $36.60B, a compound annual growth rate of 32.6%. Oil Sands Mining & Upgrading's share of the total rose from 47.1% to 51.0% over the same years.
The table also keeps 2 segments that CANADIAN NATURAL RESOURCES Ltd no longer reports, so earlier years can still be read on their original basis; use "Show 2 discontinued" beneath the table to see them. This breakdown covers 7 fiscal years between 2015 and 2023, as reported in CANADIAN NATURAL RESOURCES Ltd's annual filings.
Crude Oil & Ngls was the largest of CANADIAN NATURAL RESOURCES Ltd’s 2 reported lines in fiscal 2023, at $18.84B — 99% of $19.03B.
| Reserve Quantities By Type Of Reserve | FY 2016 | FY 2017 | FY 2018 | FY 2020 | FY 2022 | FY 2023 |
|---|---|---|---|---|---|---|
| Crude Oil & Ngls | $7.79B | $20.81B | $18.84B | |||
| Natural Gas | $1.44B | $5.47B | $193.00M | |||
| Total | $9.23B | $26.28B | $19.03B |
In fiscal 2023, which ended December 31, 2023, the 2 revenue lines CANADIAN NATURAL RESOURCES Ltd reported in this breakdown added up to $19.03B. That is less than the $36.60B in its breakdown by segment, so these revenue lines do not account for all of its revenue that year. Crude Oil & Ngls was the largest revenue line, at $18.84B or 99.0% of the total, followed by Natural Gas ($193.00M, 1.0%).
This breakdown covers 6 fiscal years between 2016 and 2023, as reported in CANADIAN NATURAL RESOURCES Ltd's annual filings.
CANADIAN NATURAL RESOURCES Ltd (CNQ) breaks its revenue down by region, segment and revenue line. In fiscal 2021, its largest region was North America, with $23.11B or 95.7% of the total, followed by North Sea at $611.00M (2.5%).
North America was CANADIAN NATURAL RESOURCES Ltd's largest region in fiscal 2021, with $23.11B in revenue, 95.7% of the $24.16B reported across its 3 regions.
Oil Sands Mining & Upgrading was CANADIAN NATURAL RESOURCES Ltd's largest segment in fiscal 2023, with $18.66B in revenue, 51.0% of the $36.60B reported across its 5 segments.
Crude Oil & Ngls was CANADIAN NATURAL RESOURCES Ltd's largest revenue line in fiscal 2023, with $18.84B in revenue, 99.0% of the $19.03B reported across its 2 revenue lines.
Every figure is taken from CANADIAN NATURAL RESOURCES Ltd's annual financial filings and shown as reported: each line keeps the name the company gives it, years follow its own fiscal calendar, and lines it has stopped reporting stay in the table for the years they were reported.
The breakdown by region covers fiscal 2016 to 2021. The latest four fiscal years are free to view, and the full history is available with a Business Quant subscription.