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oil exports

Under Sanctions, Iran's Crude Oil Exports Have Nearly Halved in Three Years

June 25, 2015 by U.S. EIA: Today in Energy

Iran Oil Sanctions

Sanctions imposed by the United States and the European Union (EU) at the end of 2011 and during the summer of 2012, respectively, led to the displacement of more than 1.0 million barrels per day (b/d) of Iranian crude oil on the global market.[read more]

Oil Trade Off Yemen Coast Grew by 20% to 4.7 Million Barrels Per Day in 2014

May 3, 2015 by U.S. EIA: Today in Energy

Oil Trade in Yemen

While Yemen is not a major oil-producing country, its coast borders the Bab el-Mandeb Strait, a narrow chokepoint between the Horn of Africa and the Middle East. This strait is a strategic route for Persian Gulf oil, natural gas, and petroleum product shipments to Europe and North America.[read more]

Crude Oil Inventories Should Peak Soon

March 30, 2015 by Robert Rapier
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Oil Inventory Peaking?

If the crude oil export ban is repealed all bets are off. A flood of crude oil would be sent for export while we continued to import heavier oils from places like Canada and Venezuela. Crude oil inventories in that case would probably come down rapidly, and crude oil prices would move into a higher trading range.[read more]

U.S. Petroleum Product Exports Increase for 13th Consecutive Year, Setting Record

March 15, 2015 by U.S. EIA: Today in Energy

US Petroleum Exports

U.S. exports of noncrude petroleum products from the United States averaged a record 3.8 million barrels per day (bbl/d) in 2014, an increase of 347,000 bbl/d from 2013, based on data from EIA's Petroleum Supply Monthly. In particular, exports of motor gasoline, propane, and butane increased.[read more]

Oil Revenue: Is it Really Lost if You Never Earned it?

February 11, 2015 by Jared Anderson

Oil Revenue and Oil Prices

There have been lots of recent headlines about how much money the governments of oil exporting nations will lose as a result of declining oil prices. But these countries will really just earn less money than they would from selling their product at a higher price.[read more]

Friday Energy Facts: OPEC Net Oil Export Revenues Expected to Fall in 2014 and 2015

December 19, 2014 by U.S. EIA: Today in Energy

OPEC Oil Export Revenue Drop

Based on market assessments in the Short-Term Energy Outlook, EIA estimates that members of the Organization of the Petroleum Exporting Countries, excluding Iran, will earn about $700 billion from net oil exports in 2014, a 14% decrease from 2013 earnings and the lowest earnings for the group since 2010.[read more]

Energy Quote of the Day: Iraq Oil Agreement 'Is a Win-Win Deal for Both Sides'

December 5, 2014 by Jared Anderson

Iraq Oil Agreement

Major energy news coming out of Iraq is currently getting drowned out by the hoopla around falling oil price coverage. The Kurdish Regional Government and Iraq’s central government today reached an agreement on exporting oil and sharing revenue.[read more]

Friday Energy Facts: Crude Exports and Re-Exports Continue to Rise; Some Volumes Sent to Europe and Asia

November 7, 2014 by U.S. EIA: Today in Energy

Oil Exports Rising

The United States exported 401,000 barrels per day (bbl/d) of crude oil in July 2014, the highest level of exports in fifty-seven years and the second highest monthly export volume since 1920, when the Energy Information Administration's published data actually starts.[read more]

Oil and Gas Investor Editor Leslie Haines: We Will Never Stop Importing Oil, but We May Start Exporting

October 11, 2014 by Jim Patrick

Leslie Haines is editor-in-chief of Oil and Gas Investor magazine. In November 1992, the Independent Petroleum Association of America awarded Haines with the 2nd Annual Lloyd Unsell Award for Excellence in Petroleum Journalism. She is a former president of the Houston Producers' Forum.[read more]

Exporting US Oil to Mexico

September 15, 2014 by Geoffrey Styles
6

Two of the biggest energy stories of the last twelve months have been the reform of Mexico's oil sector after 75 years of state monopoly and the United States oil industry's drive to gain approval to export a growing surplus of domestic light crude oil.[read more]

Condensate Pries Open the Oil Export Lid

July 21, 2014 by Geoffrey Styles
1

Last month we learned that the Commerce Department gave two US companies permission to export condensate that would otherwise be trapped here under a 1970s-vintage ban on oil exports. This validates the view that the administration has the statutory authority necessary to allow such exports.[read more]

ISIS Threatens Iraq's Oil Upside

July 10, 2014 by Geoffrey Styles
1

ISIS and Iraq Oil Threat

Last month's blitzkrieg advance of Al Qaeda spinoff ISIS in northwestern Iraq rattled global oil markets and politicians. Yet even as the rebel offensive appears to stall, the escalation of risk in Iraq and its neighbors could affect geopolitics, oil supplies and fuel prices for the rest of the decade.[read more]

Energy Quote of the Day: 'The Rules Remain Outdated'

June 27, 2014 by Jared Anderson
1

Aging Energy Export Rules

As we reported last November, US crude oil export laws can be absurd, with policies regulating condensate exports particularly convoluted. Thus it appears two forward-thinking companies took advantage of this “squishy” legal situation to gain condensate export approval.[read more]

U.S. Crude Exports in April Rise to Highest Level in 15 Years

June 22, 2014 by U.S. EIA: Today in Energy
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US Crude Exports

The United States exported 268,000 barrels per day (b/d) of crude oil in April (the latest data available from the U.S. Census Bureau), the highest level of exports in 15 years. Exports have increased sharply since the start of 2013 and have exceeded 200,000 b/d in five of the past six months.[read more]

U.S. Petroleum Product Exports to Mexico Rise while Mexican Crude Exports to the U.S. Fall

June 1, 2014 by U.S. EIA: Today in Energy

U.S., Mexico, and Petroleum

The United States imported 850,000 barrels per day of crude oil from Mexico in 2013, which is the lowest volume since 1993. In the past decade, U.S. crude oil imports from Mexico fell 47%, primarily as a result of declining production of crude oil in Mexico.[read more]