India is considering Canada as a
potential crude oil supplier, High Commissioner Dinesh Patnaik
said on Wednesday at the Global Energy Show in Calgary, Alberta,
adding that the country’s newer refineries are designed to
process heavy crude, making Canadian grades a viable option.
Patnaik said officials from the two countries are meeting
regularly to discuss opportunities for sourcing Canadian energy.
He said, however, that global investors remain cautious
about Canada’s regulatory and project approval processes, which
could affect the pace of energy cooperation.
Separately, Abu Dhabi National Oil Company said on Tuesday
it is exploring opportunities in Canada’s upstream and liquefied
natural gas sectors through its international arm XRG.
Canada is the world’s fourth-largest crude oil producer and
fifth-largest natural gas producer.