| CALGARY, Alberta, June 8
CALGARY, Alberta, June 8 Canada believes there
are opportunities for Chinese investment in the Alberta oil
sands, Canadian Natural Resources Minister Jim Carr said on
Thursday, adding the government would welcome investment in the
sector from any nation.
The vast oil sands deposits in northern Alberta are home to
the world's third-largest crude reserves but also carry some of
the highest production costs globally.
There has been an exodus of international oil companies that
this year alone have sold off around $22.5 billion in oil sands
assets to Canadian producers, stoking concerns the future
development of the resource could stall.
Speaking on the fourth day of a five-day trip to China, Carr
said the government's "minds are open" with regard to Chinese
"We think there are opportunities and we laid out, along
with experts from industry, what we believe to be opportunities
for them," Carr told reporters on a conference call.
"We would welcome investment from any nation that's
interested in the oil sands. The trend of capital flows over the
last little while has been international investors have been
looking at their opportunities and decided to spread their
resources, whereas Canadian investors have stepped up."
The previous Canadian government under Conservative Stephen
Harper had a policy of limiting control of the oil sands by
state-owned companies, such as China's CNOOC. They are
still able to hold minority stakes in projects.
(Reporting by Nia Williams; Editing by Bernard Orr)