炼油厂不能停产，只能在全球寻找替代品。可全球能稳定大量供应重质原油的国家有限，墨西哥产量下滑，伊拉克的油偏轻，另一能源大国虽有重油但物 流受限。此时，加拿大油砂重油进入视野，其与原依赖的原油在密度、硫含量、加工路径上高度相似，现有装置基本无需改造就能使用。 然而，局势突变，美军介入该南美国家事务后，双方重油贸易几乎停滞。此前虽通过中间商或换装转运勉强维持，但美方此次加大力度，一口气扣押至少 三艘油轮，使得相关贸易难以继续，买家无奈放弃。 过去数年，不少独立小炼油厂长期依赖某南美国家的重质原油。这种原油硫含量高、加工难度大，但胜在价格低廉，在国际油价波动剧烈时，折扣幅度能 达到每桶10到20美元，对利润微薄的企业而言极具吸引力。 对加拿大而言，这无疑是个好机会。长期以来，其某省油砂原油90%以上都输往一个北方大国，受单一市场制约，还常被压价。如今，有新的买家抛出橄 榄枝，双方一拍即合。有消息称，此次交易底层逻辑是用本币结算，这让美高层十分生气，毕竟若与加拿大用美元结算，美高层或许不会如此恼怒 。 ...

Core Points - Sunshine Oilsands reported a net loss of CAD 629,000 for the third quarter, with a net loss attributable to equity holders of CAD 708,000, marking a shift from profit to loss year-on-year [1] - Shareholders' equity stands at CAD 29.52 million [1] - The decline in revenue from oil sands heavy oil for the third quarter of 2025 is primarily attributed to production stoppages due to equipment maintenance at the West Ells facility [1] - No diluted bitumen sales were recorded for the third quarter of 2025, resulting in the absence of disclosed realized prices per barrel of oil sands heavy oil for that quarter [1]