Post Tagged with: "U.S. oil exports"

India State-Run Oil Firms Eye U.S. Crude to Replace Iranian Imports

India State-Run Oil Firms Eye U.S. Crude to Replace Iranian Imports

U.S. government on Wednesday asked all countries, including India, to stop oil imports from Iran by 4 November India meets 80% of its crude demand through imports, is the second-largest buyer of Iranian crude after China 10 million barrels of U.S. crude in 6 cargoes was bought on spot market; firms looking at term contracts now Mumbai: State-run oil marketing companies (OMCs) plan to firm up long-term crude supply contracts and increase spot purchase of crude oil from the United States, said sources from these companies. This comes in the wake of the US government on Wednesday asking all countries, including India, to stop oil imports from Iran by 4 November. India meets 80% of its crude demand through imports and is the second-largest buyer of Iranian crude after China. Iran is also the third-largest supplier to India after Saudi Arabia and Iraq and imported 27.2 million tons of crude worth[Read More…]

June 28, 2018 - 2:35 pm Closing Bell Story, Energy News
Murkowski Report Suggests Using Executive Power to End Oil Export Ban

Murkowski Report Suggests Using Executive Power to End Oil Export Ban

Senate Committee on Energy & Natural Resources: exempt allies from export ban  Senator Lisa Murkowski (R-AK) has been a vocal proponent of lifting the U.S. crude export ban during her time as head of the Senate Committee on Energy & Natural Resources. Recently, Murkowski presented the findings of a report entitled “Rendering Vital Assistance: Allowing Oil Shipments to U.S. Allies,” that suggests that the president could exercise his executive power in order to exempt ally countries from the export ban. “Lifting the ban will bring an array of benefits to our nation: more jobs, more revenues, more production, more security and more diplomatic leverage on the international stage,” said Murkowski. “The report further develops an argument I’ve been making: that even while Congress works to remove the export ban, the administration already has authority, explicitly delegated to it by Congress, to allow for greater oil exports.” Canada Granted Exception by President[Read More…]