Canadian pipeline construction Image: Jason Woodhead
Chinese state-owned energy companies will continue to invest in Canadian oil sands and shale gas companies, says China’s ambassador to the country Zhang Junsai. To date, spending in the region by Chinese SOEs has hit an estimated $20 billion, much of which has yet to see a profit.
Nonetheless, Zhang justifies the Chinese presence and investment, claiming they are there to learn first and generate profit second. c China’s oil and gas imports remain stable as Qatar, Saudi Arabia, Russia and Australia continue to fulfil supplies.
Zhang sees Canada as a long-term “investment opportunity” and an important part of the growing superpowers multi-channel approach to energy fulfilment. Canadian president Stephen Harper has made diversifying exports of Canadian oil to Asian markets a major initiative, although he realises that pipeline capacity for transporting crude to the nation's west coast is limited.
Published 15th May, 2012
Looking for more information about OATS products and services?
additives Africa And finally Asia Australia automotive industry Aviation base oil bio fuels bio lubes BP Brazil Castrol Chevron China China and finally China Internet Marketing China Lubes Marketing China lubes news China Lubes Tech China OEM Equipment CNOOC CNPC CO2 emissions ConocoPhillips Corporate News e-commerce electric vehicles Environment and Regulatory watch Environment, regulatory and standards Europe ExxonMobil Ford Forecasts Fuchs GM Great Wall India innovation Inovation and environment Internet marketing Japan Lubes marketing Lubes news Lubes tech Lubricants marine Middle East Mobile technology motorsport N America Nissan North America OEM and automotive OEM Equipment PetroChina Russia S America Scandinavia Shell Sinopec social media Total Toyota View from the Bridge Volkswagen Volvo