Energy & Environment Correspondent
Timothy's Feed
Jun 25, 2014

U.S. clarifies what lightly processed oil drillers can export

WASHINGTON, June 25 (Reuters) – U.S. energy markets marked a
seismic shift on Wednesday after federal officials provided more
clarity on what companies glutted with oil can ship to thirsty
markets abroad, leading to expectations for a potential surge in
shale oil exports.

News that companies can export a type of ultra-light crude
if it has been minimally refined pushed crude oil prices
higher, and triggered a realignment in energy stocks, with
refiner shares sagging while those in several oil and gas
producers jumped.

Jun 25, 2014

U.S. allows condensate oil exports, after light refining

WASHINGTON, June 24 (Reuters) – U.S. officials have told
energy companies that they may export a variety of ultra-light
oil if it has been minimally refined, an apparent marginal
loosening of a decades-old ban on selling U.S. crude abroad.

The Wall Street Journal reported that the Department of
Commerce, which has come under growing pressure to ease
restrictions amid a resurgence in domestic production, had given
approval via a private ruling to Pioneer Natural Resources Co
and Enterprise Product Partners LP to export the
so-called condensate.

Jun 12, 2014

Insight – Why higher Iran oil exports are not roiling nuclear deal

WASHINGTON (Reuters) – At first glance, Iran appears to have exported more oil than allowed under a nuclear agreement with major powers, but rather than complaining, U.S. officials argue Tehran is skating just inside the deal’s ambiguous limits.

Iran’s higher exports reflect its exploitation of a loophole in U.S. law that allows its customers to buy condensates, a very light oil, without fear of U.S. sanctions. Rising gifts of crude oil to Syria are not covered by the deal.

Jun 12, 2014

Why higher Iran oil exports are not roiling nuclear deal

WASHINGTON (Reuters) – At first glance, Iran appears to have exported more oil than allowed under a nuclear agreement with major powers, but rather than complaining, U.S. officials argue Tehran is skating just inside the deal’s ambiguous limits.

Iran’s higher exports reflect its exploitation of a loophole in U.S. law that allows its customers to buy condensates, a very light oil, without fear of U.S. sanctions. Rising gifts of crude oil to Syria are not covered by the deal.

Jun 6, 2014

Continental Resources applies to swap U.S. crude oil abroad

WASHINGTON, June 6 (Reuters) – Continental Resources
, the largest leaseholder in the booming North Dakota oil
fields, recently applied for a U.S. license to swap crude oil
abroad in an attempt to get around the country’s 40-year ban on
exports, a spokeswoman confirmed on Friday.

“The pending license is to further demonstrate the need for
a free market for crude, just like refined products already
have,” the spokeswoman said, without specifying when Continental
made the application.

Jun 4, 2014

Keystone XL pipeline vulnerable to attacks, NextGen report says

WASHINGTON (Reuters) – The Keystone XL oil pipeline would be vulnerable to attacks threatening water supplies for millions of homeowners and farmers, according to a report by NextGen Climate, a political group led by billionaire activist Tom Steyer.

Attackers could wreck remote pump stations along the pipeline’s route in the northern Great Plains with just 4 pounds (1.8 kg) of readily available explosives, Dave Cooper, a former Navy Seal and a senior operative on the mission that killed Osama bin Laden, said in the 14-page NextGen report released Wednesday.

May 29, 2014

Lifting oil export ban would spark U.S. economy: IHS

WASHINGTON (Reuters) – If U.S. lawmakers reverse a 40-year ban on oil exports it would add more than $1 trillion to government revenues through 2030, trim fuel prices, and add an average of more than 300,000 jobs a year, according to a report by an energy research group.

In one of the most optimistic assessments about unlocking U.S. crude exports, the IHS report said gasoline prices would fall some 8 cents a gallon because overturning the ban would pour crude onto oil markets and lower global fuel prices.

May 22, 2014

U.S. could swap light crude to ease oil boom glut: senator

WASHINGTON (Reuters) – To help shrink its growing glut of oil, the United States could swap light crude to nearby countries without having to issue time-consuming new rules or findings, according to a report released on Thursday by a senior senator.

The debate about overturning a 40-year-old ban on U.S. oil exports has sharpened as the domestic boom is expected to make the United States the world’s top crude producer by next year, bigger than both Saudi Arabia and Russia. Brimming supplies could begin to discourage U.S. energy companies from producing crude sometime next year.

May 12, 2014

U.S. Senate Republicans block energy bill, forfeit Keystone vote

WASHINGTON, May 12 (Reuters) – U.S. Senate Republicans on
Monday blocked an energy-efficiency bill backed by manufacturers
and environmentalists, forfeiting a chance to vote on the
long-delayed Keystone XL oil pipeline.

On a nearly party-line vote of 55-36, President Barack
Obama’s Democrats fell short of the 60 votes needed to advance
the bipartisan energy bill supported by the White House.

Apr 30, 2014

U.S. Senator Reid opens door to Keystone pipeline vote

WASHINGTON, April 29 (Reuters) – U.S. Senate Majority Leader
Harry Reid, in an abrupt election-year shift in strategy, opened
the possibility on Tuesday of allowing a vote on congressional
approval of the long-delayed Keystone XL oil pipeline.

“I’m open to anything that will move energy efficiency,”
Reid, a long-time foe of the project, told reporters.

    • About Timothy

      "I cover U.S. energy and environment policy and climate change. Moved to DC in late 2009 after a decade in New York. Author of "Diminishing Resources:Oil," which is one in a series of books for young adults."
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