The outage is the live oilsands file. It is not a guidance cut
Canadian Natural Resources Limited (TSX: CNQ, NYSE: CNQ) said with its August 6 second-quarter results that a planned 35-day turnaround at Horizon would begin September 8, 2026, and is targeted to take about 29,000 barrels a day off the annual average. That volume is already inside the August guidance range of 1,637,000 to 1,682,000 boe per day. Today is day eight. The company has not posted a start-up or extension note.
Second-quarter mining and upgrading averaged about 625,000 barrels a day of synthetic crude at 106 percent upgrader utilization and $22.19 a barrel of operating cost. NRUTT at Horizon stays on the books for about 6,300 barrels a day of incremental SCO after mechanical completion in the third quarter of 2027. That is next year.
The August paper also left medium and long-term oilsands growth on hold until the Oil Sands Alliance trilateral MOU becomes definitive agreements, targeted for November. Jackfish, Pike 2, and the longer-dated Albian and Horizon expansions stay in that pause. This morning's file is the turnaround that is already running, not a new sanction.