Canada Has Pledged To Assist Countries In Transitioning Away From Russian Oil

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Canada Has Pledged To Assist Countries In Transitioning Away From Russian Oil

Canada claims it can assist address the global energy dilemma by providing more oil, gas, and uranium.

As a result of Russian supplies being strained as a result of its invasion of Ukraine, prices have risen.

Many countries are committed, according to Canada's natural resources minister, "to help as much as we can in terms of displacing Russian oil and gas."

The world's fourth largest oil producer has pledged to increase oil exports by 200,000 barrels.

Jonathan Wilkinson, the country's Natural Resources Minister, said that the country would also export 100,000 barrels of natural gas.

It comes after pleas from its friends at the International Energy Agency (IEA) in Paris, where world energy ministers promised to speed up the transition to clean energy.

"We expect to be completely up to 300,000 barrels by the end of the year," Mr Wilkinson said.

However, this is only a small portion of the three million barrels per day that the IEA estimates would be taken from global markets by the end of next month as a result of Russian sanctions.

Because Canada's pipelines are approaching capacity, the amount of oil it can export is limited, but Mr Wilkinson says transporting it through the United States is an option.

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