Thursday, July 09, 2009

West Coast oilsands exports at record, Shipments open new markets for Alberta crude

On July 09, 2009, Dr. Wenran Jiang, Mactaggart Research Chair and Associate Professor of Political Science at the University of Alberta, was interviewed by the Calgary Herald on Canada's record high oil shipment in spring 2009 through the Port of Vancouver bounding for Asian markets. It was the first time tanker shipments have exceeded the 100,000 bpd threshold. The prospect of Canadian crude exports to China has also increased in proportion to China's growing oil consumption.

Wenran Jiang said China has made major acquisitions of Canadian companies such as Petro-Kazakhstan and, more recently, the $8.27-billion purchase of Addax Petroleum. However, he noted a reluctance on the part of the Chinese authorities to do deals in Canada itself. China will hold off on major investments in Canada until Canadian producers take concrete steps to provide long-term stable supplies, he said.

You can read the article here.

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