News Brief
Amid Strained India-Canada Ties, Reliance Makes Its First Canadian Oil Purchase From Trans Mountain Pipeline
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In a significant move amidst strained relations between India and Canada, Reliance Industries has made its first-ever oil purchase from Canada.
The purchase of 2 million barrels of Canadian crude from Shell for July delivery marks a historic milestone for Reliance and underscores the changing dynamics of global oil trade.
The timing of Reliance's purchase is noteworthy, coming at a time when diplomatic tensions between India and Canada have been heightened.
Recently, pro-Khalistan slogans were raised during a public event in Toronto, attended by Canadian Prime Minister Justin Trudeau and other leaders.
Meanwhile, the oil purchase comes as part of a larger trend, with Asian refiners increasingly turning to Canadian oil, especially with the expansion of the Trans Mountain pipeline.
The pipeline's completion is set to significantly increase the flow of crude from Alberta to Canada's Pacific Coast, providing access to Asian and U.S. West Coast markets.
Shell will facilitate the transfer of the purchased crude onto a Very Large Crude Carrier for delivery to the Sikka port, where Reliance operates the world's largest refining complex.
