Enterprise Contracts to Boost U.S. Crude Exports
Enterprise bumps up exports through annual contracts; signs 2015 contracts with PDS, Vitol; seeks one more term buyer. U.S. exports of condensate have been given an important boost after pipeline company Enterprise Products Partners LP agreed annual contracts with at least two major trading companies to sell the light crude, trade sources said. Oil producers have been pressing to lift a 40-year-old U.S. ban on crude exports and the Department of Commerce broke its year-long silence in December and began approving a backlog of requests to sell processed light oil abroad. Enterprise is selling 40,000 barrels per day (bpd) under the contracts, which should give it a headstart before other firms get the nod to export condensate produced from shale operations.
TEN Accepts Aframax Tanker
Tsakos Energy Navigation Limited announced the delivery and charter of the 105,000 dwt DNA-Aframax tanker Uraga Princess from Sumitomo Heavy Industries in Japan, the final newbuilding in a series of eight ordered in 2004. Upon delivery, the vessel entered a minimum 30-day repositioning voyage with the oil trading arm of a major financial institution.