Reuters reports Enterprise Products Partners (ticker: EPD) has secured light crude oil export contracts with Mitsubishi’s Petro-Diamond Singapore and Vitol, an independent oil trader, for volumes of 40 MBOPD in 2015. The information comes from Reuters sources based on anonymity, but information arose last week about EPD seeking to expand its crude export cargoes. Although the export of raw crude
The United States Department of Commerce said it has begun approving requests to sell light processed oil on the international market. The transactions, which now can be conducted by companies without government approval, pertain only to selling crude that has either been processed or refined. The export of raw crude is still outlawed. The announcement, which Reuters describes as “wrapped in
What will a Republican House and Senate do for the Keystone XL pipeline and crude oil exports ? The results of the mid-term elections have placed both houses of Congress under Republican control, and the market seems to be responding positively. The S&P 500 Energy sector gained 1.75% today. Reuters reported that this strong showing was likely due to the
Re-exporting Canadian Oil through U.S. According to an Energy Information Administration (EIA) report released October 31, crude oil exports reached their highest levels in 57 years in July. The EIA reported that the United States exported 401,000 BOPD in July, marking the second highest monthly export volume since the EIA started publishing data in 1920. Due to current U.S. crude
