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Saturday, October 22, 2016

US Approved 52 Oil Re-export Licenses in Last 6 Months

April 8, 2014

The U.S. Department of Commerce approved 52 crude oil re-export licenses in the last six months to destinations other than Canada, the department said on Tuesday.

The permits, which were approved between October 2013 and March, include 14 licenses for re-exports to European countries, according to data released by the department's Bureau of Industry and Security.

The United States does not allow exports of its own oil with few exceptions such as barrels going to Canada or re-exports of foreign oil from U.S. ports.

Since late February, four licenses were approved for re-exports to Spain, where traders say Enbridge Inc  plans to send Canadian oil as early as this month.

Last week, Enbridge became the first company to confirm plans to re-export Canadian oil via the United States, followed by Valero Energy (VLO).

The bureau has also green-lighted three re-export licenses to the United Kingdom since late February and six licenses for re-exports to South America, according to documents Reuters obtained through Freedom of Information Act requests.

Aside from these, the bureau granted two licenses for the temporary export of U.S. oil through the Panama Canal over the last six months. That oil is expected to eventually return to the United States.

A majority of the export licenses approved since October were for barrels destined for Canada.

The bureau does not provide information on the companies behind the licenses or the volume of oil destined for re-exports. The licenses are valid for one year.

he table below lists licenses approved for re-exports between Oct 1, 2013 and March 31, 2014. Exports to Canada and Panama are not among the 52 re-export licenses.

Destination  //  Approved licenses
Argentina  //  1
Barbados  //  1
Brazil  //  1
Chile  //  1
China  //  1
Colombia  //  1
Germany  //  1
India  //  2
Italy  //  2
Japan  //  3
Korea, Republic of  //  4
Malaysia  //  3
Mexico  //  1
Netherlands  //  1
Peru  //  1
Singapore  //  1
Spain  //  4
Taiwan  //  1
Thailand  //  1
Trinidad and Tobago  //  1
United Kingdom  //  6
Uruguay  //  1
Various*  //  13
Canada*  //  43
Panama**  //  2

* Countries may include Argentina, Belgium, Brazil, Canada, Chile, Finland, France, Germany, Greece, Israel, Italy, Japan, Korea, Malaysia, Morocco, Netherlands, Norway, Poland, Singapore, Spain, Sweden, Switzerland, Taiwan, Thailand, Turkey and United Kingdom.
** Licenses are for exports of U.S. oil to Canada.
*** Licenses are for temporary exports of U.S. oil through the canal but returning to U.S. soil.

(Reporting by Selam Gebrekidan; Editing by Bernadette Baum and David Gregorio)

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