US to Release Reports on Crude Oil Export Issues

Posted by Eric Haun
Monday, August 18, 2014

The U.S. Energy Information Administration plans to release two reports in September examining some of the issues surrounding a potential end to the nation's decades-old ban on most crude oil exports, the EIA's chief said on Monday.

Some lawmakers have pressed the EIA, the statistical arm of the Department of Energy, to provide analysis on the implications of relaxing or abolishing the ban, as debate over the future of the moratorium has intensified.

The EIA's upcoming reports will focus on the impact to U.S. gasoline prices at the pump from changing domestic and global oil markets, and on the costs of building different types of crude oil refining units in the United States.

EIA administrator Adam Sieminski said the report on gasoline would not specifically weigh in on whether crude oil exports would raise U.S. gasoline prices, but it would provide an analysis of whether domestic gasoline prices are determined more by world or U.S. oil markets.

"The goal would be to try to understand: if Midwest oil prices go up, is that going to change gasoline prices in the U.S." as well, Sieminski told reporters at a workshop on EIA data.

The report on constructing refinery projects will delve into the costs of building equipment such as stabilizers and splitters.

The focus on refining infrastructure has increased after the Commerce Department clarified that companies can export ultra-light crude oil that has been run through stabilizers, which shave off volatile natural gas liquids.

The U.S. crude oil export ban was imposed by Congress in the 1970s after the Arab oil embargo. The U.S. shale oil boom of recent years is expected to soon make the country the world's top crude producer, surpassing both Saudi Arabia and Russia.

It has also led to a glut of light oil in Texas and Louisiana because refiners have invested billions of dollars to process heavier oils imported from Mexico and Venezuela.

(Reporting by Ayesha Rascoe; Editing by Ros Krasny and Marguerita Choy)

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

Tanker Trends

Tanker Backlog Builds at Basra

Ships face up to a three week wait; bad weather in February delayed loading, created backlog. * April intake to be reduced to clear backlog By Keith Wallis SINGAPORE,

Knightsbridge, Golden Ocean Merger Completed

Knightsbridge Shipping Limited has completed its previously announced merger with Golden Ocean Group Limited. In connection with the closing of the merger, Knightsbridge

GasLog Acquires 2 BG Carriers

GasLog Ltd. completed the acquisition of two LNG carriers from Methane Services Limited, a subsidiary of BG Group plc, which was previously announced on December 22, 2014.

Ports

Tanker Backlog Builds at Basra

Ships face up to a three week wait; bad weather in February delayed loading, created backlog. * April intake to be reduced to clear backlog By Keith Wallis SINGAPORE,

U.S. Port Delay Boost February Air Freight

Global air freight volumes rose 11.7 percent year-on-year in February, driven by the Chinese New Year, the International Air Transport Association said on Wednesday.

Largest Vessel to Call ICTSI, Rijeka

Adriatic Gate Container Terminal (AGCT), International Container Terminal Services, Inc.’s (ICTSI) container handling facility in the Port of Rijeka, Croatia, recently

Energy

Blaze hits Mexico Oil Platform, 300 Workers Evacuated

Mexican state-run oil company Pemex said on Wednesday that it was fighting a fire on oil platform in Campeche Bay on the Gulf of Mexico, home to the country's biggest oil field,

Donjon-SMIT Relocating to Houston

Alexandria, VA- Donjon-SMIT, the unique provider of Oil Pollution Act of 1990 (OPA 90) Salvage and Marine Firefighting (SMFF) services established by Donjon Marine Co.

Tanker Backlog Builds at Basra

Ships face up to a three week wait; bad weather in February delayed loading, created backlog. * April intake to be reduced to clear backlog By Keith Wallis SINGAPORE,

News

Baltic Sea Freight Index Down on Lower Rates

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, fell on Wednesday, pulled down by a fall in rates across all vessel segments.

Blaze hits Mexico Oil Platform, 300 Workers Evacuated

Mexican state-run oil company Pemex said on Wednesday that it was fighting a fire on oil platform in Campeche Bay on the Gulf of Mexico, home to the country's biggest oil field,

Donjon-SMIT Relocating to Houston

Alexandria, VA- Donjon-SMIT, the unique provider of Oil Pollution Act of 1990 (OPA 90) Salvage and Marine Firefighting (SMFF) services established by Donjon Marine Co.

Government Update

S.Korea to Pay $380,000 to Ferry Victims Families

The South Korean government said on Wednesday it would pay about 420 million won ($380,000) as compensation for each of the 250 students who died or remain missing from last year's ferry disaster,

Largest Vessel to Call ICTSI, Rijeka

Adriatic Gate Container Terminal (AGCT), International Container Terminal Services, Inc.’s (ICTSI) container handling facility in the Port of Rijeka, Croatia, recently

Focus on Environment at Suny Maritime

The State University of New York Maritime College’s 140th Anniversary Speaker Series presented a panel discussion on March 26 in the College’s Maritime Academic Center.

Logistics

Baltic Sea Freight Index Down on Lower Rates

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, fell on Wednesday, pulled down by a fall in rates across all vessel segments.

BMT Partners with Aage Hempel

BMT SMART (BMT),  has announced  that Aage Hempel has become an accredited service partner.  This agreement will provide both organizations with the opportunity

SeaZip Takes Delivery of Damen Crew Suppliers

On 28 March, SeaZip Offshore Service named two new Damen Fast Crew Suppliers (FCS) 2610 at Damen Shipyards Gorinchem.   The two vessels, named SeaZip 3 and SeaZip 4,

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Naval Architecture Offshore Oil Pipelines Pod Propulsion Salvage Ship Simulators 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: 0.1716 sec (6 req/sec)