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

Tanker Trends

Weak Oil Threatens US Export of LNG

Plunging global oil prices may turn hopes for cheap liquefied natural gas supplies from the United States into a costly disappointment for Asian buyers who have

Singapore’s MPA Discuss LNG Bunkering

The Maritime and Port Authority of Singapore (MPA), Antwerp Port Authority, Port of Rotterdam and Port of Zeebrugge participated in a Liquefied Natural Gas (LNG)

New Standard for LNG Cargo Containment Systems

Wilhelmsen Technical Solutions (WTS) said it has successfully completing the gas trial for the first LNG carrier built to a Boil Off Rate (BOR) of 0.08% per day.

Ports

Long Beach Cargo Continues to Climb

Cargo container traffic rose 7.3 percent in September at the Port of Long Beach compared to the same month last year, making for the Southern California seaport’s busiest September since 2007,

New Intermodal Rail Service from PortMiami

Florida East Coast Railway (FECR) and PortMiami, through a strategic alliance, are offering the Sunshine Gateway service, which includes on-dock intermodal rail capabilities.

Singapore’s MPA Discuss LNG Bunkering

The Maritime and Port Authority of Singapore (MPA), Antwerp Port Authority, Port of Rotterdam and Port of Zeebrugge participated in a Liquefied Natural Gas (LNG)

Energy

Pentair Reports 3Q 2014 Sales of $1.8 bi

Pentair plc today announced third quarter 2014 sales of $1.8 billion. Sales were up 3 percent compared to sales for the same period last year. Third quarter 2014

FortisBC Starts Expansion of Tilbury LNG Facility

FortisBC – a subsidiary of Fortis Inc. has officially started construction of its $400 million Tilbury LNG Facility expansion project today. The company is adding 1.

PES to Begin Operating Benzene Terminal in November

Philadelphia Energy Solutions plans to start operating a new benzene offtake terminal next month at its 335,000-barrel-per-day refinery in Philadelphia, two people familiar with the plans said.

News

Zamakona Yards Delivers Tuna Freezer Vessel

Zamakona Yards yesterday celebrated in Getxo (Bizkaia) the delivery of the tuna freezer vessel LJUBICA, their latest construction to the owner group Jadran based in Ecuador and Panamá.

Pentair Reports 3Q 2014 Sales of $1.8 bi

Pentair plc today announced third quarter 2014 sales of $1.8 billion. Sales were up 3 percent compared to sales for the same period last year. Third quarter 2014

GOST Security System thwarts Break-in

GOST® (Global Ocean Security Technologies), a world leader in vessel security, tracking, monitoring and video surveillance systems, announced today that its

Government Update

USS Milius Departs on Deployment

The guided missile destroyer USS Milius (DDG 69) departed Naval Base San Diego Oct. 20 on an independent deployment to the Western Pacific and Indian Oceans.

Continership Alliance Expands to US Trades

The CKYHE Alliance (COSCO, "K" LINE, Yang Ming, Hanjin Shipping, and Evergreen Line) has announced they will expand their cooperation scope to U.S. Trades and CKYHE

Total CEO Killed in Moscow Runway Accident

Private jet collided with snow plow during takeoff; Total's CEO a defender of Moscow policies. Insiders Boisseau and Pouyanne long seen as potential successors.

Logistics

Long Beach Cargo Continues to Climb

Cargo container traffic rose 7.3 percent in September at the Port of Long Beach compared to the same month last year, making for the Southern California seaport’s busiest September since 2007,

Continership Alliance Expands to US Trades

The CKYHE Alliance (COSCO, "K" LINE, Yang Ming, Hanjin Shipping, and Evergreen Line) has announced they will expand their cooperation scope to U.S. Trades and CKYHE

New Intermodal Rail Service from PortMiami

Florida East Coast Railway (FECR) and PortMiami, through a strategic alliance, are offering the Sunshine Gateway service, which includes on-dock intermodal rail capabilities.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Pipelines Pod Propulsion Salvage Ship Repair Shipbuilding / Vessel Construction 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: 0.1356 sec (7 req/sec)