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Canadian Natural faces another oil sands overrun

Wed Aug 6, 2008 9:06pm EDT

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TORONTO, Aug 6 (Reuters) - Canadian Natural Resources Ltd (CNQ.TO) said on Wednesday that its Horizon oil sands project faced another cost overrun, adding C$525 million ($500 million) from previous estimates, to a new total cost of C$9.27 billion.

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In an evening news release, Canadian Natural said work was taking longer than planned and "delays and schedule slippage" meant commissioning of the plant was being delayed beyond the third quarter.

($1=$1.05 Canadian) (Reporting by Janet Guttsman, Editing by Jeffrey Jones)

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