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.
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.
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.
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.
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.
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.
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.
WASHINGTON, April 22 (Reuters) – The spotlight on
TransCanada Corp’s Keystone XL pipeline has obscured
another project that would send more Canadian oil sands
petroleum to the United States, but this one too is struggling
Enbridge Inc hopes to expand its Clipper pipeline
that currently sends up to 500,000 barrels of oil per day from
Hardisty, Alberta, to Superior, Wisconsin, in order to further
tap Western Canada’s oil sands, the world’s third-largest crude
oil reserve, behind Venezuela and Saudi Arabia.
LONDON/WASHINGTON, April 11 (Reuters) – Iran’s crude oil
exports have surged to their highest in 20 months, far exceeding
a 1 million barrel-per-day limit set by the West under an
interim deal on curbing Tehran’s nuclear program.
The International Energy Agency’s monthly report revised
February’s global crude imports from Iran upwards by 240,000 bpd
to 1.65 million barrels per day, the highest since June 2012.
WASHINGTON, April 10 (Reuters) – The United States could
give Europe and Ukraine relief from energy dependence on Russia
within months if it overturned the 40-year ban on most U.S.
crude oil exports, the head of energy company Hess Corp.
said on Thursday.
“There’s something we can do today to help our allies now,
and that’s give the green light to crude exports,” Chief
Executive Officer John Hess said at the Center for Strategic and
International Studies, a Washington-based think tank.