According to the Canadian Association of Petroleum Producers, the EU’s new fuel quality directive (FQD) will treat Canada’s oil sands on a level playing field with other sources of oil around the world, creating new export opportunities for energy and allowing Canada to compete more freely in the global market.
Tim McMillan, CAPP President and Chief Executive Officer, commented: “This is an important signal for Canada as it means our oil will not face discrimination in Europe. It also opens the door further for Canadian companies to compete on a level playing field for new markets in Europe and abroad. (Last week’s) development means market access, building the infrastructure to get Canadian oil to world markets by all means in all directions, should be a national priority to grow our economy”.
The EU’s original FQD proposal singled out Canadian oil sands crude as more carbon dioxide intensive than conventional oil. Late in 2014, the FQD was revised to avoid discrimination against Canada and to encourage transparent reporting from all countries.
Exports of Canadian crude to Europe are just beginning to occur.
(Source: Energy Global)