Friday, July 07, 2006

China wants nothing less than equity stake in oilsands

On July 7, 2006, Dr. Wenran Jiang was interviewed by the Calgary Herald on Chinese investment in Alberta's oilsands industry.

Song Yiwu, vice-president of the China National Oil and Gas Exploration and Development Corporation the international wing of the Chinese National Petroleum Corp. (CNPC) told a TD oilsands conference his company is looking to secure a minimum of 200,000 barrels per day (bpd) from Canada as part of his country's efforts to diversify oil supplies from around the globe.

Dr. Jiang said it's in Canada's interest to engage China. "China is coming it's the reality. The issue is, how do we work with China? We should work with China together to help solve their problems and benefit ourselves at the same time."

You can read the article here.

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