India not eyeing oil sands, analyst says

Strategy targets ‘us investing in them’

CALGARY — India is hunting for oil around the world, but unlike its giant neighbour China the oil sands in northern Alberta are not likely among its targets, a consultant specializing in state-owned energy companies says.

“I wouldn’t see the Indians coming to Canada. Their strategy seems to be direct government-to-government negotiations . . . rather than [with] traditional independent or international oil companies,” said Tom Collins, a vice-president of PricewaterhouseCoopers LLP in Calgary.

Unlike most oil assets in the world, the oil sands are not under the direct control of the government and are instead operated by numerous public corporations, such as Suncor Energy Inc.

PwC is a co-sponsor of a global energy conference taking place tonight in Calgary. The speakers include Alberta Premier Ralph Klein, Enbridge Inc. chief executive officer Patrick Daniel and Indian Oil and Gas Minister Mani Shankar Aiyar.

The Globe and Mail