|By PR Newswire||
|August 4, 2014 05:39 PM EDT||
DALLAS, Aug. 4, 2014 /PRNewswire-iReach/ -- The regulation for prohibiting crude exports in the US were enacted 1975 under the Energy Policy and Conservation Act during the height of the Oil Embargo by OPEC against the US. This law made sense as domestic production was declining and the US was the world's largest crude oil importer.
U.S. crude oil and condensate production has significantly increased since the use of fracking technology in the U.S. The increase in production has had a profound impact on reducing seaborne crude oil imports into the US. As refiners were able to effectively utilize increasing domestic crude oil production by displacing light sweet crude oil imports and then increasing refining runs to profitably export products into the Global Market.
Complete Report Details @ http://www.marketoptimizer.org/us-export-policies-adopting-to-changing-crude-oil-supply-landscape.html .
There are no restrictions concerning the export of refined product from the U.S. The approval process for the construction of LNG facilities and the export of LNG into the global market has accelerated. The recent ruling by the U.S. Bureau of Industry and Security (BIS) permitting distilled condensate to be exported represents a step-change in U.S. policy regarding crude / condensate exports from the US. The next step is the exporting of "distilled" crude oil that has the potential to significantly impact crude prices and refining margins.
Report provides information and insight on –
- Events occurring as domestic crude oil production in U.S. / Canada increases
- Increase in crude oil production displacing seaborne crude oil imports into the US
- Increase in crude production result in price discount to International crude market increasing refining utilization and product exports
- Current regulation regarding crude oil / condensate and refined product exports from U.S.
- Domestic light sweet crude oil production reaching limits as US refining industry primarily geared to run heavy sour crude oil
- Some refiners now experienced operational restraints resulting in lower utilization rates
- Potential option available to process increasing domestic light sweet crude oil and condensate
- Building condensate splitters and mini refineries not the answer
- U.S. Department of Energy Bureau of Industry and Security (BIS) approves a request from two (2) companies to export distilled (lightly processed) condensate from the U.S. This is the first approval granted and could open the door to a significant increase in distilled condensate and potentially distilled crude oil from U.S. – A GAME CHANGER!
- Exported Condensate competitive in South America and Asia
- Possibility to expand crude oil exports
- Little political appetite to permit crude oil exports
- Attitudes could change as domestic production continues to increase or from new Congress / Administration in Washington with different energy policies
Order a Purchase Copy @ http://www.marketoptimizer.org/contacts/purchase?rname=9225 .
Reasons to buy
The approval represents a step-change in US Energy Regulations and Policy. The process used by both companies receiving approvals to export condensate is explained and the market for increases in condensate exports is reviewed. Other questions are addressed including –
- Potential to utilized the approved distillation method on condensate in other US domestic condensate production
- Potential to utilized the approved distillation method on condensate in other US domestic crude oil production fields
Table of Contents for This Report
1 Table of Contents
Crude Production in the US Displacing Imports While Demand Holds Steady
Politically Motivated US Hydrocarbon Export Policy
Domestic Crude Overwhelming US Refining Complex
Micro-Refineries Not the Answer to Mega-Production Increases
Game changing approval to export processed condensate
The possibility to expand crude exports
1.1 List of Figures
Current U.S. Crude Oil Imports, excluding Canada, has declined by 3.7MMBPD – about 45% — from 2005 annual level
Product Exports from the U.S. have increased as refining utilization levels have increased and domestic oil demand remains at about constant levels
Explore more reports on Energy industry at http://www.marketoptimizer.org/category/energy-power/energy .
MarketOptimizer.org is an online database of market research reports offer in-depth analysis of over 5000 market segments. The library has syndicated reports by leading market research publishers across the globe and also offer customized market research reports for multiple industries.
Media Contact: Ritesh Tiwari, MarketOptimizer, +18883915441, [email protected]
News distributed by PR Newswire iReach: https://ireach.prnewswire.com
SOURCE Market Optimizer