Condensate exports from US begin
HOUSTON, August 6, 2014 – Pioneer Natural Resources said on Tuesday that it had exported 400,000 barrels of lightly treated condensate in the first exports of crude oil from the US in decades.
The shipment exported by Enterprise Product Partners is the first after the US Department of Commerce opened up the possibility of exporting lightly treated condensate as a way around the historic ban on crude exports from the US, in place since the 1970s oil crash.
Other companies have said they follow suit, included Marathon Oil. Pioneer had a specific approval for the shipment from the Department of Commerce while some companies are considering whether they can ship condensate without taking that lengthy bureaucratic step or whether the risk of falling foul of the crude export ban is too great.