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

Decade Old India Shipping Summit Makes History

In ten years, India Shipping Summit held consistently in Mumbai, has sailed on a robust growth course despite the worldwide witnessing recessionary waves buffeting any endeavors to grow and gain.

MARAD Seeks Comments on Proposed Policy for Deepwater Export Applications

The Maritime Administration (MARAD) is seeking comments on the agency’s proposed policy to accept, evaluate and process license applications for the construction

Oil Drillers Group to Fight U.S. Export Ban

More than a dozen U.S. oil producers have joined to lobby the federal government to reverse the 40-year-old ban on U.S. crude exports, a move that supporters hope

Ports

UN: Ship Inspections near Somalia for Arms, Charcoal

The United Nations Security Council authorized the inspection of boats suspected of carrying illegal shipments of charcoal or weapons to and from Somalia on Friday,

UN Authorizes Ship Inspections Near Somalia For Arms, Charcoal

The United Nations Security Council authorized the inspection of boats suspected of carrying illegal shipments of charcoal or weapons to and from Somalia on Friday,

Liebherr to Deliver RTGs to Mayotte and Manila

Liebherr confirms orders for variable speed RTGs and electric RTGs. DPWorld Asian Terminals Inc. has placed an order with Liebherr Container Cranes for a further 5 RTGs at its Manila facility.

Energy

Decade Old India Shipping Summit Makes History

In ten years, India Shipping Summit held consistently in Mumbai, has sailed on a robust growth course despite the worldwide witnessing recessionary waves buffeting any endeavors to grow and gain.

Areva-Siemens Raises Claim Over Finnish Reactor Delays

The French-German consortium Areva-Siemens , the supplier of Finland's much-delayed Olkiluoto-3 nuclear reactor, has increased its claim against Finnish utility Teollisuuden Voima (TVO),

16 Die in Coal Mine Accident in China

Sixteen workers were killed after a coal mine collapsed in China's far western region of Xinjiang, the official Xinhua news agency reported on Saturday, highlighting

News

Decade Old India Shipping Summit Makes History

In ten years, India Shipping Summit held consistently in Mumbai, has sailed on a robust growth course despite the worldwide witnessing recessionary waves buffeting any endeavors to grow and gain.

USCG to Ensure Safety During World Series

The Coast Guard and local agencies are working to ensure the safety of boaters and baseball fans during World Series games at AT&T Park this weekend. The

Areva-Siemens Raises Claim Over Finnish Reactor Delays

The French-German consortium Areva-Siemens , the supplier of Finland's much-delayed Olkiluoto-3 nuclear reactor, has increased its claim against Finnish utility Teollisuuden Voima (TVO),

Government Update

Navy to Commission Submarine North Dakota

The Navy will commission its newest attack submarine North Dakota, during a ceremony Saturday, Oct. 25, 2014, at Submarine Base New London in Groton, Connecticut.

MARAD Seeks Comments on Proposed Policy for Deepwater Export Applications

The Maritime Administration (MARAD) is seeking comments on the agency’s proposed policy to accept, evaluate and process license applications for the construction

Oil Drillers Group to Fight U.S. Export Ban

More than a dozen U.S. oil producers have joined to lobby the federal government to reverse the 40-year-old ban on U.S. crude exports, a move that supporters hope

Logistics

UN: Ship Inspections near Somalia for Arms, Charcoal

The United Nations Security Council authorized the inspection of boats suspected of carrying illegal shipments of charcoal or weapons to and from Somalia on Friday,

Singapore Bunker Meter Mandate Targets 'Frothy Fuel'

Singapore, the world's biggest bunkering port, plans to end the so-called "cappucino effect" in ship fuelling through new meters designed to stop suppliers from short-changing customers,

Antwerp Port Achieves Highest Throughput

The port of Antwerp handled a freight volume of 148,344,168 tonnes during the first nine months of this year. That’s 3.7% more than the same period last year. Both

 
 
Maritime Security Maritime Standards Naval Architecture Navigation Pipelines Pod Propulsion Port Authority Salvage Ship Simulators 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: 0.1158 sec (9 req/sec)