Alberta Discuses Heavy Oil Sales With Large Overseas Buyer

Alberta Discuses Heavy Oil Sales With Large Overseas Buyer | OilPrice.com

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Breaking News:

ByTsvetana Paraskova– Mar 12, 2025, 6:05 AM CDT

Alberta’s Premier Danielle Smith has discussed potential overseas sales of Alberta-owned heavy oil with a global oil and petrochemical firm, the Canadian oil-producing province said this week.

The potential deal with the multinational company, which Alberta didn’t name, would be a first-of-its-kind transaction that would see the overseas transport and sale of about 2 million barrels per month of Government of Alberta owned heavy oil via the Alberta Petroleum Marketing Commission (APMC).

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“Given the significant volume of conventional and bitumen royalty barrels that will become available over time, the APMC will seek agreements with other jurisdictions and industry players to ensure Albertans benefit to the greatest extent possible from the ownership of their natural resources,” the province of Alberta said in the press release.

New deals will help improve and diversify markets for Alberta’s oil, the provincial government added.

“Faced with uncertainty around trade and security, Alberta’s government remains focused on diplomacy and continuing to build a resilient and diversified economy that is better positioned to withstand external shocks and ensure long-term prosperity,” the government said.

Alberta and Canada are looking to diversify oil and gas exports to reduce dependence on U.S. trade amid the tariffs and tariff threats by U.S. President Donald Trump.

Dusting off plans for previously scrapped pipelines would take longer than a sales agreement with buyers outside the U.S.

On Tuesday, Alberta signed a partnership agreement with JOGMEC, the state-owned enterprise under Japan’s Ministry of Economy, Trade and Industry, to boost collaboration in developing Alberta’s energy and natural resources.

“We have an opportunity to supply Japan with the most ethically produced oil and gas on the planet to aid in their economy and shift to low-carbon electricity production while we continue to grow our international energy exports,” said Brian Jean, Alberta’s Minister of Energy and Minerals.

By Tsvetana Paraskova for Oilprice.com

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