Allan Markin hosts Gates and Buffett in Alberta

Up for a visit to the oil sands, billionaire buddies Bill Gates and Warren Buffett were hosted by Canadian Natural Chairman and one of Canada's richest men, Allan Markin.

Buffett and Gates - who were first and third, respectively, on the world's richest people list in the March edition of Forbes Magazine - were hosted by a group that included Canadian Natural Resources Ltd. and the Canadian Association of Petroleum Producers (CAPP) at Canadian Natural's $9.3-billion Horizon oilsands development.

Representatives from CAPP made a presentation to the American power duo, who were pegged by Forbes in the spring as having a collective net worth of a cool $120 billion U.S. and who could be looking for secure places to make resource-related investments now that the U.S. dollar seems to be recovering.

Spokeperson Rob Larson, from Canadian Natural Resources Ltd. confirmed that the tour did take place, but would not comment on details.




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Allan Markin

Chairman of the Board - Canadian Natural Resources Ltd.

Markin and his partner at CNRL, Murray Edwards, are responsible for building one of Canada's largest oil and natural gas producing companies, said University of Alberta President Dr. Rod Fraser.

"[Markin's] strong commitment to his community and a vision to build a better world is embodied through his continuing philanthropy and personal support of community organizations in the province," Fraser added.

When he became chairman of CNRL in 1989, the company was struggling and had only six employees. Now, the company's current revenues exceed $3 billion annually.

Markin, who graduated from the U of A in the late sixties with a degree in chemical engineering, has received numerous awards for his business savvy and philanthropy, including the Alberta Pinnacle Award of Business and the Oilweek Producer of the Year. For several years, he has been a recipient of the Wall Street Journal Gold Award for outstanding achievement among Canadian Oil Producers.

Philanthropically, Markin helped to establish a distinguished writers program and the development of a sports medicine facility at the University of Calgary. As well, he is one of the principal supporters of the foundation and development of Calgary's Saint Mary's College. This past December, Markin and CNRL jointly committed to providing $6 million to the U of A to support the construction of the $65 million Natural Resources Engineering Facility, a research building that will focus on resources development.

"When I graduated thirty years ago, it would have seemed remote--implausible--to know that I would be here today. And now, imagine how wonderful it would be if each of you was standing here in thirty years to receive your own honorary degrees," Markin said in his address Tuesday afternoon to the U of A's 2002 graduating class of engineering, medicine and dentistry students.

"Certainly, I had no idea that the road I was about to follow after I graduated would lead me back to this place today," he said. "And I could not have predicted then all the challenges, problems, heartaches and joys that I would experience as I traveled that road." Read Full Post...

Steve Laut

President & Chief Operating Officer- Canadian Natural Resources

As Canadian Natural Resources Ltd.'s chief operating officer, Steve Laut was a key player in stickhandling the company's massive $10.8-billion Horizon Oil Sands project through five years of planning, regulatory hurdles and shareholder approval. Convincing investors might have been the easiest task as the company announced record production, revenues and profits for fiscal 2004, which led to an increased dividend and a two-for-one stock split after shares more than doubled in value during the year. Once built in 2008, Horizon will add 110,000 barrels per day to the production capacity of Calgary-based Canadian Natural, now the country's second largest independent oil producer. The company also increased its presence in the heavy-oil business by purchasing a 66% stake in Petrovera Resources in February 2004. As a reward, Laut was named Canadian Natural's president in May 2005 as well as earning $6.7 million in salary and exercised stock options in 2004. Read Full Post...