China's major oil refining facilities have accelerated their search for alternative sources after the halt of discounted crude oil supplies from Venezuela. Under the current circumstances, heavy crude oil from Canada is considered the closest and most suitable substitute for the Chinese market.
The editorial reports, citing Bloomberg, that due to the US President Donald Trump administration's increased pressure on Venezuela and the steps taken against the country's leadership, Chinese companies have been effectively excluded from this source. This has led to a restructuring of supply routes.
According to information, Canadian oil transported via the expanded Trans Mountain pipeline is primarily directed towards China. This process is welcomed by the province of Alberta and the Canadian federal government, as they see reducing dependence on the US for energy exports as a strategic goal.
Analysts state that the new logistics flow creates supply stability for China and allows Canada to strengthen its position in the Asian market. It is not excluded that this trend will continue in the near future.