India Eyes Canadian Crude as Refineries Shift to Heavy Oil Processing

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India is looking at Canada as a potential crude oil supplier. High Commissioner Dinesh Patnaik made this known at the Global Energy Show in Calgary, Alberta on Wednesday.

Patnaik said India's newer refineries are built to process heavy crude. This makes Canadian grades a viable option. Officials from both countries are meeting regularly to discuss energy sourcing opportunities.

But Patnaik also noted that global investors are cautious about Canada's regulatory and project approval processes. This could slow down energy cooperation between the two nations.

In a separate development, the Abu Dhabi National Oil Company said on Tuesday it is exploring opportunities in Canada's upstream and liquefied natural gas sectors. It will work through its international arm, XRG.

Canada is the world's fourth-largest crude oil producer and the fifth-largest natural gas producer.

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