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 August 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Russia's Shipping Major Reports Strong 1H 2014

OAO Sovcomflot (SCF Group), Russia’s largest shipping company and a global leader in seaborne energy transportation and offshore services, has announced its financial

Tankship-specific Version of FindaportCD Released

Harbour & terminal information providers, Shipping Guides Ltd, says its latest tanker-specific  addition enables customers to access the most comprehensive port

Navy Unmanned Aircraft Sets the Bar

The Navy's X-47B unmanned aircraft has completed its final test aboard 'USS Theodore Roosevelt' (CVN 71) and has returned to its home base at Naval Air Station Patuxent River after eight days at sea
,

Energy

Nanotechnology & Big Data: New Review

A report commissioned by the Lloyd’s Register Foundation, reviewing the potential implications of nanotechnology on the safety and performance of engineering assets

Bulk Equipment is Delivered to Syzran Refinery

A reactor and a cold high-pressure separator is delivered to the site of Rosneft subsidiary Syzran Refinery for the constructed diesel hydro-treater. The unit

Achinsk Refinery Resumes Operation on Tight Schedule

Achinsk Oil refinery, suspended after the incident of June 15, 2014 has recovered the processes of primary crude oil processing on a tight schedule, according to the plan of repair activities.

News

USCG, National Park Service Rescue Sea Turtle

Members from the U.S. Coast Guard and National Park Service rescued a loggerhead sea turtle Sunday in Oregon Inlet. Watchstanders at Coast Guard Sector North Carolina

Bulk Equipment is Delivered to Syzran Refinery

A reactor and a cold high-pressure separator is delivered to the site of Rosneft subsidiary Syzran Refinery for the constructed diesel hydro-treater. The unit

Achinsk Refinery Resumes Operation on Tight Schedule

Achinsk Oil refinery, suspended after the incident of June 15, 2014 has recovered the processes of primary crude oil processing on a tight schedule, according to the plan of repair activities.

Barges

MN 100: Horizon Shipbuilding, Inc.

13980 Shell Belt Road Bayou La Batre, AL 36509 E-mail: trshort@horizonshipbuilding.com Website: www.horizonshipbuilding.com President and General Manager: Travis R.

US Rail Jams Force Rush to Roads and Rivers

U.S. coal-burning power utilities are being forced to turn to barges and more expensive trucks to move coal, desperate to shore up stockpiles left dangerously low

ABS to Class Ultra Deepwater Offloading Unit

The Remora HiLoad DP BR unit design approved by ABS will have advanced capabilities for offloading operations in Brazil's Santos Basin. ABS, a provider of classification

Vessels

Gibdock Rreputation Rises in German Market

Gibdock has continued to see its stock rise amongst the German shipowner community over the past year. Indeed the Gibraltar ship repair yard’s recent client list

ClassNK's Noboru Ueda Attends KOTC Delivery Ceremony

Mr. Noboru Ueda, Chairman and President of ClassNK attended the delivery ceremony for the M/T Al Yarmouk, constructed at Daewoo Shipbuilding & Marine Engineering Co.

MARAD Shipbuilding Loan Guarantee

The launch of the Bravante IX, built in a U.S. shipyard, was from the investments made by the Maritime Administration (MARAD) just three years ago. The investment

Intermodal

No Sign of Ultra-Large Containership Mega Hubs: Analysis

Contrary to the views of some in the industry, Ultra Large Container Vessels are continuing to call at multiple North European ports per loop and are not concentrating on a mega-hub,

Dentressangle Acquire U.S. 3PL Provider Jacobson

France's Norbert Dentressangle says it has completed the previously announced acquisition of all the shares of privately held U.S. third party logistics (3PL) provider,

US Rail Jams Force Rush to Roads and Rivers

U.S. coal-burning power utilities are being forced to turn to barges and more expensive trucks to move coal, desperate to shore up stockpiles left dangerously low

 
 
Maritime Contracts Maritime Security Maritime Standards Naval Architecture Offshore Oil Port Authority Salvage Ship Electronics Sonar Winch
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: 0.2797 sec (4 req/sec)