The U.S. Department of Commerce’s (DOC) Bureau of Industry and Security (BIS) is the section in charge of regulating exports of crude oil. The U.S. is producing more oil than it has in the previous decades; however, a government ban on crude oil exports has created an oversupply, resulting in opportunities for numerous industry players. The… Keep reading →
The US Gulf Coast is becoming the country’s preeminent petroleum storage hub as shale oil and natural gas liquids flow south to the massive refining and export center. In a move designed to capitalize on that trend, Enterprise Product Partners yesterday announced the $4.4 billion acquisition of storage company Oiltanking. And according to The American… Keep reading →
The recent US Commerce Department ruling to allow two companies to export minimally processed condensate turned many energy industry heads and raised questions about whether the US was moving toward relaxing the 39-year oil export ban. This editorial clearly lays out the situation’s complexity and calls for more adroit policy in the face of new… Keep reading →
As we reported last November, US crude oil export laws can be absurd, with policies regulating condensate exports particularly convoluted. Thus it appears two forward-thinking companies took advantage of this “squishy” legal situation to gain condensate export approval. Deemed “private classification orders” by the Commerce Department’s Bureau of Industry and Security, the decision allows Pioneer… Keep reading →
The quote is in reference to cows of course. Apparently a cow was blamed for causing a condensate spill at a production facility in North Dakota. The alleged perpetrater could have been or curious or “had an itch that needed scratching,” according to an Associated Press story running in local papers. “They just get rubbing… Keep reading →
United States law prohibits exports of crude oil and condensate except under certain conditions, while exports of refined products and natural gas are far less restricted. While these laws had little impact when the country was in a position of oil and gas scarcity, the country’s newfound energy abundance has rendered some of them obsolete,… Keep reading →
The results of Chevron’s initial exploration in the Kaybob area of the Duvernay play in Alberta, Canada show liquid yield from completed wells in the 30-70% range, with initial production rates of as much as 7.5 million cubic feet of natural gas and 1,300 barrels of condensate per day. [Chevron] China National Offshore Oil Corp… Keep reading →
