India is considering Canada as a possible crude oil supplier, High Commissioner Dinesh Patnaik said on Wednesday on the Global Energy Show in Calgary, adding that the country’s newer refineries are designed to process heavy crude, making Canadian grades a viable option.
Get every day National news
Get every day Canada news delivered to your inbox so you will never miss the day’s top stories.
Patnaik said officials from the 2 countries are meeting repeatedly to debate opportunities for sourcing Canadian energy.
He said, nonetheless, that global investors remain cautious about Canada’s regulatory and project approval processes, which could affect the pace of energy cooperation.
Individually, Abu Dhabi National Oil Company said on Tuesday it’s 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.