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Chinese companies, eager to curry favor with a reliable source of crude, are likely to buy significant portions.
Iran is the fourth-largest source of crude oil for South Korea, accounting for 10 percent of its oil imports.
As the energy industry evolves, production platforms in the North Sea, once a crucial source of crude oil, are being dismantled and sold for scrap.
It would make producers' considerable investments in Canadian oil sands production more valuable, while ensuring American refineries a secure source of crude for decades.
In recent years, the South American country has alternated with Saudi Arabia as the largest source of crude oil for the United States.
At the same time, Mexican oil production was also in decline, meaning that domestic refineries would soon need another source of crude.
Similar(22)
Less dependency upon foreign sources of crude is good for consumers.
"The less dependent we are on foreign sources of crude oil, the more secure we are at home".
The only way to become less dependent on foreign sources of crude oil is to explore at home.
For example, when there are other available sources of crude protein, the crude protein in sorghum forage might not be that important.
As President Bush said last month, "The less dependent we are on foreign sources of crude oil, the more secure we are at home".
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CEO of Professional Science Editing for Scientists @ prosciediting.com