Canadian Natural boosts dividend, revives expansion in Alberta

Canadian
Natural Resources Ltd. is giving more cash to
shareholders and plans to revive dormant expansion plans in the oil sands in a
rare display of optimism for Alberta’s battered energy industry.With crude prices languishing below $50 (U.S.) a barrel, CNRL on Thursday
boosted its quarterly dividend by 9 per cent to 25 cents a share and said it
would restart early-stage work on a proposed steam-driven bitumen project called
Kirby North.

The Calgary-based company said it would spend $28-million (Canadian) on
engineering and procurement for the project next year. It also boosted its 2016
budget by nearly a fifth to $4.4 …
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