US EditionCanada's cheaper, cleaner and lower-risk oil can rival a resurgent Venezuela, Carney says
Mark Carney emphasized Canadian oil's competitive edge due to lower costs and carbon capture, supported by a new west-coast pipeline agreement to diversify export markets.
- On Tuesday in Paris, Prime Minister Mark Carney said he was not worried increased Venezuelan output would challenge Canada's exports and welcomed the removal of Nicolás Maduro as creating democratic transition possibilities.
- Following the U.S. action in Venezuela, Poilievre wrote, '...every barrel the United States sources from Venezuela could mean one less barrel these refineries would buy from Canada. We therefore need new markets to sell to, and we need them quickly.'
- Canada's oilsands produce nearly five million barrels per day, mostly exported to the United States, while Venezuela produced about 900,000 barrels per day last year, raising concerns of displacement at U.S. refineries that specialize in heavy crude.
- Ottawa and Alberta signed a comprehensive MOU to boost shipments to Asia, and Carney cited falling costs and the Pathways project carbon capture to lower carbon intensity.
- Carney was at a Paris summit to finalize security guarantees for Ukraine when he said this before joining Ukrainian President Volodymyr Zelensky, French President Emmanuel Macron and leaders from more than 30 countries at the Élysée Palace.
13 Articles
13 Articles
Venezuela Impact: Carney Says Canadian Oil to Remain Competitive, Poilievre Pushes for Pipeline
Prime Minister Mark Carney says Canadian oil will remain competitive on the U.S. and world markets in the wake of the ouster of Venezuelan leader Nicolás Maduro. Carney told reporters the federal government is taking “measures” to ensure the continued growth of Canada’s oil exports such as signing the recent memorandum of understanding (MOU) with Alberta, which proposes building one or more pipelines from Alberta to the B.C. coast. “We welcome t…
Paris, Jan 6 (EFE).- Canadian Prime Minister Mark Carney said this Tuesday in Paris that the possible US control of the Venezuelan oil wells does not pose a threat to Canada, the world’s fourth largest oil producer. In statements to the media in the French capital, where he participates in a meeting of the Coalition of Volunteers in support of Ukraine, Carney said that “Canada’s oil will be competitive because it is low-risk and low-cost” and th…
Canada's cheaper, cleaner and lower-risk oil can rival a resurgent Venezuela, Carney says
Prime Minister Mark Carney says he's not worried about the prospect of increased oil production from Venezuela challenging Canada's energy exports because Canadian oil is cheaper, cleaner and lower risk.
Prime Minister Mark Carney says that Canada is trying to expand its Asian oil markets in the face of the prospect that Venezuelan oil will replace the Canadian product in the U.S. market.
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