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Asian Oil Companies Looking to Capitalize on the Opportunity in the Canadian Oil Sands Industry
Asian Oil Companies Looking to Capitalize on the Opportunity in the Canadian Oil Sands Industry
Investment in the unconventional energy sector has witnessed unpredicted growth in recent years as global oil demand has increased and crude prices have surged to new heights.
Hyderabad,
AP,
India
(prbd.net)
01/03/2010
"Asian Oil Companies Looking to Capitalize on the Opportunity in the Canadian Oil Sands Industry"
Investment in the unconventional energy sector has witnessed unpredicted growth in recent years as global oil demand has increased and crude prices have surged to new heights. This led to sizeable investment in the exploration and development of various unconventional energy sources. One of the major factors that made the exploration of the Canadian oil sands economically feasible was the growing oil price due to the surging demand across the world. However the current financial crisis and the collapse of the oil price have put a temporary brake on oil and gas industry investments. The impact on the environment is another factor against the oil sands industry. Consequently, the US, which is among the major importers of oil from Canada is trying to reduce its use of oil from oil sands. This has led the Canadian government to scout for investments from other regions. At this juncture, the Asian oil companies have a huge opportunity to expand their presence in the oil sands industry.
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