The downward trend in global oil prices that garnered so much attention – and hyperbole – over the past couple of weeks also revived interest in the US crude oil export conversation. The million dollar question with regard to US oil exports is how additional volumes of US crude on the global market would impact… Keep reading →
Crude oil transportation in the US ballooned to 1 million barrels per day in recent years as production swelled beyond existing pipeline infrastructure capacity. A series of explosive accidents involving crude oil train cars has sparked regulators to strengthen rules and safety measures governing these pipelines on wheels. “Tens of thousands of these older tank… Keep reading →
Daniel Yergin, Pulitzer Prize winning author and Vice Chairman of global consulting firm IHS spoke at the 2014 EIA Conference in Washington D.C. on Monday. EIA, the U.S. Energy Information Association is the statistics arm of the federal Department of Energy and the conference featured leading figures from industry, academia and government. Yergin stated emphatically… Keep reading →
The topic of exporting US oil – or minimally processed condensate – was one of the hottest at the EIA’s energy conference, which kicked off yesterday in Washington DC. “John Auers, executive vice president of the engineering firm Turner, Mason & Co., said rulings by the U.S. Commerce Department allowing two Texas companies to sell… Keep reading →
US oil producers are leaving no stone unturned in their quest to export light, sweet crude that has swelled to a glut overwhelming the country’s refineries. One option could be to swap US crude for grades produced overseas that are better suited to the US refining complex, but a host of regulatory and market-based obstacles… Keep reading →
Traditional and social media universes have been buzzing as analysts and market observers digest the recent US crude oil export news. The Wall Street Journal was accused of writing a misleading headline stating the US “loosened” the crude oil export ban. This may be a bit nitpicky, but the broad US crude oil export ban… 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 →
