Sales of Canadian bitumen likely on India trip agenda

10/22/2012
Although China gets most attention as an alternative buyer of heavy oil from Alberta, Canada's top energy official has taken a trip that deserves notice. The oil-craving Chinese government looks longingly at the vast oil sands resource of Alberta and has financed large investments by state-owned companies in Canadian bitumen producers and projects. CNOOC Ltd.'s July proposal to buy Nexen for $15 billion is a standout example. Canada has reciprocated the interest since the US, its default market, turned balky about extending the Keystone pipeline system to serve high-conversion refineries on the Gulf Coast. Canada's China option, though, is no sure thing. An increase in westbound exports d...
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