In 2016, Canada shipped almost all its oil exports south to the United States. That changed in 2017. Last month, a ship loaded oil off Newfoundland and set sail on a 16,000 kilometre voyage to China. This followed a cargo of western Canadian oil sands shipped from the U.S. Gulf Coast to India. Producers are encouraged by this welcome sign of diversification.
“With any kind of business, you don’t want to have just one market so I think it will continue to be important that Canada expands its access to markets wherever it can,” said Al Monaco, CEO of Enbridge at the CERAWeek Conference in Houston.
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