Exclusive: Loophole for condensate exports may apply to other U.S. crudes - sources

vendredi 27 juin 2014

The Valero St. Charles oil refinery is seen during a tour of the refinery in Norco This view, which has not been previously reported, will add to intense speculation over how much of the U.S. shale oil boom will reach overseas markets and how quickly loopholes will be opened in the 40-year-old ban on exporting domestic crude. The Department of Commerce determined this week that two companies that handle condensate can export it after treatment by so-called stabilizers, which use heat to shave off volatile natural gas liquids and remove contaminants such as hydrogen sulfide in order to meet pipeline specifications. Texas-based companies Pioneer Natural Resources (PXD.N) and Enterprise Product Partners (EPD.N) had sought clarity from the government over whether stabilized condensate could be exported as a petroleum product without a special license, which is needed to export unprocessed domestic crude. The Commerce Department said yes.








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