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Varcoe: 'A very simple message': Canadian Natural defers spending on major oilsands proposal, ahead of April 1 deadline on MOU

'Specifically, what we want to ensure is that the MOU comes out with a policy that provides that economic viability for these long-term projects that will fill an export pipeline going to the West Coast,' said Canadian Natural Resources president Scott Stauth

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Sometimes, you don’t need to read tea leaves to interpret what signal is being sent — the message is obvious.

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On Thursday, Canadian Natural Resources — Canada’s largest oil producer — delivered such a message while releasing fourth-quarter results, announcing it has cut about $310 million from its forecast operating capital expenditures this year.

That includes deferring about $150 million of spending related to front-end engineering design work for the $8.25-billion Jackpine oilsands mine expansion opportunity at the company’s operations about 70 kilometres north of Fort........

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