The hottest U.S. quietly eased the 40 year ban on

2022-09-30
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The United States has quietly relaxed the 40 year ban on crude oil export

foreign media quoted industry sources on Tuesday as saying that the Obama administration has quietly cleared up the obstacles to the export of unrefined U.S. crude oil, the first experimental force to measure the spring under a certain displacement in 40 years, which will allow energy enterprises to gradually break through the long-term ban on the export of U.S. produced crude oil overseas

a senior executive in the oil industry who knows the development of the situation said that federal government officials have informed the two energy companies that they can legally export an ultra light crude oil. With the exploration and development of oil in shale geological belts across the United States, this kind of oil is becoming very abundant. After a relatively low degree of processing, the crude oil may be shipped as early as August

the U.S. Department of Commerce's Bureau of industry and Security approved pioneer natural resources, headquartered in Irving, Texas, and the Houston enterprise product partnership to export ultra light crude oil called oil condensate to foreign buyers if the comparison voltage of the two operational amplifiers is abnormal, which can be refined into gasoline, aviation fuel and diesel oil

both companies confirmed that they had received a private ruling from the Ministry of Commerce

according to the existing rules, the company can export refined fuels such as gasoline and diesel, but cannot export crude oil itself. The new strategy of the Obama administration, which has not been publicly announced before, redefines some light crude oil that has been minimized as fuel oil, so that they can be exported legally

the Ministry of Commerce said that oil companies have improved the processing procedures of crude oil, so that they can meet the export requirements, although these crude oils are not considered to have undergone traditional refining treatment. It is still unclear how the Ministry of Commerce defines such condensates

industry experts said that the first batch of shipments will be small, but according to the different definitions of products that meet export requirements by regulators, it may eventually reach 3million barrels per day. In other words, the main source of this kind of oil will be shale geological belt

Brookings Institution's well, it is estimated that by the beginning of 2015, 700000 barrels of such crude oil can be exported every day

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