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Tag Archives: oil exports

Oil on the export market: Good or bad?

Critics are quick to note the similarities between today and the Nixon-Ford-Carter 1970s. Now, we can add one more parallel. The U.S. once again is an oil exporting country. Somewhere in the bowels of of the monstrous $1.1 trillion spending bill Congress rammed through Dec. 18 can be found approval for the U.S. to flip the “on” switch to the ...

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Oil exports could bolster Eagle Ford – eventually

The first oil exports from the United States left the Port of Corpus Christi on Thursday afternoon aboard the “Theo T” tanker heading for Europe just weeks after Congress repealed the nearly 40-year-old export ban. The exports — using Eagle Ford oil pumped by ConocoPhillips and transported by NuStar Energy — mark a momentous change in the midst of one ...

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Oil export ban, spending bill passes

CARLSBAD — The 40-year old oil export ban will be lifted after President Barack Obama signs a piece of legislation passed by the U.S. House of Representatives and the U.S. Senate on Friday. Lifting the ban on crude exports comes with the passing of the 2016 “Omnibus” spending bill. It is one of many policies included in the spending bill, ...

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Oil providers ask Venezuela’s PDVSA for cargo prepayments -sources

HOUSTON – Big oil suppliers have started requiring prepayment when selling cargoes of crude and refined products to Venezuela’s PDVSA, in an effort to limit potential risks from the state-run company’s well-known cashflow woes, five sources from firms involved in the deals told Reuters. One international trading firm, which has had strong commercial ties with PDVSA, has decided to limit ...

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Unwanted diesel, jet ships could sink oil prices

LONDON – Unwanted diesel and jet fuel cargoes are backing up outside Europe’s ports and taking longer, slower routes around the southern tip of Africa, traders say. A symptom of the world’s excess of oil, it also paints a gloomy picture of the chance of an oil price rebound. The abundance of crude that roiled commodity markets and turned the ...

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Lifting of 40-year oil ban heads to Senate

Oil industry officials hailed yesterday’s U.S. House of Representatives vote to lift the 40-year-old ban on crude exports as an opportunity to save consumers money and create new jobs, but environmentalists said it would worsen global warming and heighten the risk of harmful spills. American Petroleum Institute President and CEO Jack Gerard said the 261-159 vote on the measure, which ...

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House OKs lifting 40-year-old US ban on oil exports

WASHINGTON — Defying a White House veto threat, the Republican-controlled House on Friday approved a bill to lift a 40-year-old U.S. ban on crude oil exports. Supporters argued that an ongoing boom in oil and gas drilling has made the 1970s-era restrictions obsolete. The bill was approved, 261-159, with 26 Democrats joining Republicans in backing the measure that now heads ...

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