India considering Canada as potential crude oil supplier, envoy says

SEATTLE (Oil Monster): 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.

Courtesy: www.reuters.com