1. China Brief, The Dragon's Thirst for Canadian Oil
- Author:
- Wenran Jiang, Willy Lam, David G. Wiencek, and Drew Thompson
- Publication Date:
- 05-2005
- Content Type:
- Policy Brief
- Institution:
- The Jamestown Foundation
- Abstract:
- April marked a small leap forward in China's energy relations with Canada. China National Offshore Oil Corp. (CNOOC) put down $150 million for a one-sixth stake in MEG Energy Corp., an upstart oil sands company. This is China's first major investment in Canada's vast oil sands industry. Two days later, Petro China International Co. Ltd. signed a memorandum of understanding with Canada's giant pipeline company Enbridge Inc., promising cooperation in the $2.5 billion Gateway pipeline from Alberta to the West Coast that may supply China with 200,000 barrels of crude a day once completed. China's large energy corporations are predicting more such deals but at a “much bigger” scale.
- Topic:
- International Relations, Government, and Political Economy
- Political Geography:
- China, Canada, and Israel