Canadian Natural Considers Shift Away From Alberta on Levies

Canadian Natural Resources Ltd., the nation’s largest heavy oil producer, is considering a shift in investment away from Alberta as the province plans to increase corporate taxes and review royalties.

Pledges by the newly elected New Democratic Party government may stifle spending by energy companies and kill jobs, Canadian Natural President Steve Laut said on a call with investors Wednesday and subsequent interview. While about 73 percent of Canadian Natural’s assets are in Alberta, it could devote more spending to operations in Africa, the North Sea, Saskatchewan and British Columbia, he said.