Phillips 66 Now Exporting US Oil to Canada

Posted by Michelle Howard
Friday, April 11, 2014
Photo courtesy Phillips 66

Phillips 66 joined a long list of companies exporting U.S. oil to Canada after it secured a license to do so last year, the company said late on Thursday.

The Houston-based company does not own a refinery in Canada, unlike other exporters like Valero Energy, which sends U.S. oil to its Quebec refinery.

"A Phillips 66 spokesman declined to say where in Canada its exports are headed and in what volume. He also didn't disclose if the oil will reach its destination via rail or barges."

"As a matter of practice, Phillips 66 does not comment on commercial activity," spokesman Dennis Nuss said.

The United States does not allow exports of its own oil, but makes exceptions such as barrels going to Canada and re-exports of foreign oil.

Nonetheless, the U.S. Department of Commerce has issued 43 licenses over the last six months allowing companies to export U.S. oil for use by Canadian refineries.

Earlier this year, Houston-based Phillips 66 came out in support of lifting the decades-old ban on exports. The company is among the few independent refiners advocating for exports while other refiners like Valero oppose them.

Phillips 66 Chief Executive Greg Garland said on Thursday the United States is unlikely to make meaningful policy changes anytime soon, with American consumers still concerned that exports will result in higher gasoline prices.

His company is making a bet on that projection. Phillips 66 plans to build a condensate splitter at its 247,000 barrels-per-day Sweeny refinery in Texas, which will allow it to process condensates into fuel components that can be exported.

Last week, Enbridge Inc became the first company to confirm plans to re-export Canadian oil from the United States followed by Valero Energy.

(Reporting by Selam Gebrekidan; Editing by Alden Bentley)

Maritime Reporter March 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

US Navy: Future USS John Finn (DDG 113) Launched

The future USS John Finn (DDG 113) was launched at the Huntington Ingalls Industries (HII) shipyard March 28.  During launch the drydock was flooded allowing the

WISTA AGM to Address Emerging Shipping Challenges

WISTA USA (Women’s International Shipping and Trading Association) is putting the final touches on a high-profile speaker line-up that will headline its upcoming

WOW at USMMA

The United States Merchant Marine Academy Hosts 7th Annual Women on the Water Conference. Last week, The United States Merchant Marine Academy (USMMA) in conjunction with the U.

Energy

Methanol Powered Ferry Launched in Baltic Sea

Swedish ferry operator Stena Line has announced that it has converted the Stena Germanica to run on methanol, an industry first.   The company spent $24 million on converting the ship to methanol.

U.S. Oil Train Traffic mostly from Midwest to East Coast

U.S. oil trains delivered more than 13.5 million barrels of crude oil from the Midwest to the East Coast in January, according to government data that gives a first

Rotterdam Gate LNG Terminal Expansion Started

Dutch gas network operator Gasunie and tank storage service provider Vopak said on Monday that the expansion of their Gate liquefied natural gas (LNG) terminal in Rotterdam has begun.

News

WOW at USMMA

The United States Merchant Marine Academy Hosts 7th Annual Women on the Water Conference. Last week, The United States Merchant Marine Academy (USMMA) in conjunction with the U.

Methanol Powered Ferry Launched in Baltic Sea

Swedish ferry operator Stena Line has announced that it has converted the Stena Germanica to run on methanol, an industry first.   The company spent $24 million on converting the ship to methanol.

U.S. Oil Train Traffic mostly from Midwest to East Coast

U.S. oil trains delivered more than 13.5 million barrels of crude oil from the Midwest to the East Coast in January, according to government data that gives a first

Barges

U.S. Oil Train Traffic mostly from Midwest to East Coast

U.S. oil trains delivered more than 13.5 million barrels of crude oil from the Midwest to the East Coast in January, according to government data that gives a first

Sea Star Continues Puerto Rico Investments

Sea Star Line, LLC has entered an agreement to on-hire another barge to add to its current service package for shipments from Jacksonville to Puerto Rico.   The

Becker Marine at Electric & Hybrid Marine Expo

Becker Marine Systems product presentation at the dutch Electric & Hybrid Marine World Expo will put a strong focus on environmentally-friendly technology for the

Vessels

BMT Expands to Meet Increased Workload

BMT Nigel Gee (BMT), a subsidiary of BMT Group, has announced the completion of new offices in Southampton in order to meet a large increase in design work.   Operating

Enhancements for Standard 22 Gyro Compass

The German navigation system manufacturer Raytheon Anschütz has announced a new revision of the Anschütz Standard 22 Gyro Compass System. The enhancements improve

NYC Ferries: Gladding-Hearn Building Three New Vessels

Gladding-Hearn Shipbuilding, Duclos Corporation, has begun construction of the first of three new sightseeing vessels for Circle Line Sightseeing Cruises, Inc., in New York City.

Intermodal

U.S. Oil Train Traffic mostly from Midwest to East Coast

U.S. oil trains delivered more than 13.5 million barrels of crude oil from the Midwest to the East Coast in January, according to government data that gives a first

Sea Star Continues Puerto Rico Investments

Sea Star Line, LLC has entered an agreement to on-hire another barge to add to its current service package for shipments from Jacksonville to Puerto Rico.   The

CMA CGM to Add Ships, Pursue More Economies

CMA CGM, the world's third-largest container shipper, announced on Monday plans to order three giant vessels and said higher volumes and profit last year showed

 
 
Maritime Contracts Maritime Standards Naval Architecture Navigation Pipelines Salvage Ship Electronics Ship Repair Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1881 sec (5 req/sec)