North America was Canadian Natural Resources’s largest region in fiscal 2021, bringing in $23.11B of $24.16B (96%).
| 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 |
Canadian Natural Resources brought in $24.16B from its three regions in fiscal 2021, the year ended December 31, 2021. Canadian Natural Resources regrouped these regions after fiscal 2019, so the total does not compare directly with that year's $18.27B. North America was the largest at $23.11B (95.7%), ahead of North Sea at $611.00M (2.5%) and Offshore Africa at $438.00M (1.8%).
Compared with fiscal 2019, the previous year with figures, North America grew 33.2% to $23.11B, while North Sea fell 33.6% to $611.00M.
Oil Sands Mining & Upgrading was Canadian Natural Resources’s largest segment in fiscal 2023, bringing in $18.66B of $36.60B (51%).
| 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 |
Canadian Natural Resources brought in $36.60B from its five segments in fiscal 2023, the year ended December 31, 2023. Canadian Natural Resources regrouped these segments after fiscal 2022, so the total does not compare directly with that year's $26.75B. Oil Sands Mining & Upgrading was the largest at $18.66B (51.0%), ahead of North America at $17.38B (47.5%) and North Sea at $435.00M (1.2%). The other two segments brought in $127.00M combined.
From fiscal 2020 to 2023, combined revenue from these segments grew 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%.
Canadian Natural Resources stopped reporting Total Segments as a separate segment after fiscal 2022, when it brought in $5.24B.
Crude Oil & Ngls was Canadian Natural Resources’s largest revenue line in fiscal 2023, bringing in $18.84B of $19.03B (99%).
| 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 |
Canadian Natural Resources brought in $19.03B from its two revenue lines in fiscal 2023, the year ended December 31, 2023. That is less than the $36.60B it reports by segment, so these revenue lines do not cover all of its revenue. Crude Oil & Ngls was the largest at $18.84B (99.0%), ahead of Natural Gas at $193.00M (1.0%).
Canadian Natural Resources (CNQ) reports its revenue by geography, by segment and by reserve quantities by type of reserve. In fiscal 2021, North America was its largest region, bringing in $23.11B (95.7% of the total), followed by North Sea at $611.00M (2.5%).
North America was Canadian Natural Resources' largest region in fiscal 2021, bringing in $23.11B, or 95.7% of the $24.16B total across its three regions.
Oil Sands Mining & Upgrading was Canadian Natural Resources' largest segment in fiscal 2023, bringing in $18.66B, or 51.0% of the $36.60B total across its five segments.
Crude Oil & Ngls was Canadian Natural Resources' largest revenue line in fiscal 2023, bringing in $18.84B, or 99.0% of the $19.03B total across its two revenue lines.
Every figure comes from Canadian Natural Resources' annual financial filings, as reported. Each line keeps the name Canadian Natural Resources gives it, and years follow its fiscal calendar.
Canadian Natural Resources' revenue by geography goes back to fiscal 2016, with figures through fiscal 2021. The latest four fiscal years are free to view, and the full history is available with a Business Quant subscription.