A major shift is underway in the energy sector, and Jim Cramer thinks the ripple could be significant.» Read More
The imports would mark an abrupt shift from a decades-old devotion to crude oil self-sufficiency in Mexico, long a major exporter to the United States. His comments are the strongest signals to date on both the timing and potential volumes of light crude imports to Mexico.
*Panamax freight rates from U.S. to Asia rise. NEW YORK/ SINGAPORE, Aug 13- Asian buyers of ultra light oil from the United States are struggling to find small-sized ships willing to undertake the month-long voyage at affordable rates as U.S.- Asia oil trade flows grow. "Why would you want to send a Panamax to Asia?
LONDON, July 29- Somewhere in an office at the Bureau of Industry and Security in Washington, D.C., a mid-ranking government official is sitting down with a stack of dictionaries.
HOUSTON, July 16- Plains All American may build new pipelines dedicated solely to a very light form of crude oil known as condensate in parts of the Permian Basin in West Texas as output increases, an executive of the U.S. company said this week.
WASHINGTON, July 2- Two senators on Wednesday asked the U.S. Commerce Department to explain why it approved exports of a form of super-light oil known as condensate, saying the action may have violated the decades-long ban on U.S. crude oil exports.
NEW YORK, June 30- After decades of isolation, the United States is set to become a major player in the global trade of ultra light oil as recent government export approvals attract interest across the world.
*Iraq's southern oilfields remain safe- U.N. envoy. NEW YORK, June 26- Crude oil on both sides of the Atlantic fell on Thursday as fears eased over export disruptions from war-ravaged Iraq, allowing market participants to take some profit off the table. Iraq is OPEC's second-largest producer.
*Iraq's southern oilfields remained safe- U.N. envoy. NEW YORK, June 26- U.S. crude lost over a dollar and Brent slipped on Thursday as fears eased over export disruptions from war-ravaged Iraq, OPEC's second-largest producer.
LONDON, June 26- The U.S. Commerce Department's decision to allow two companies to begin exporting ultra-light condensate after only minimal refining marks the beginning of the end of the ban on American crude oil exports. The Commerce Department and the White House insist there has been "no change in policy on crude oil exports".
*Iraq's southern oilfields remain safe- U.N. envoy. LONDON, June 26- Brent crude oil fell on Thursday, as fears over conflict causing export disruption from Iraq, OPEC's second-largest producer, eased further.
*Iraq's southern oilfields remain safe- U.N. envoy. LONDON, June 26- Brent crude oil fell on Thursday, as fears about conflict causing export disruption from Iraq, OPEC's second-largest producer, subsided further.
LONDON, June 26- Brent crude oil held steady near $114 a barrel on Thursday, with traders watching developments in Iraq for the possibility of export disruption from OPEC's second-largest producer.
SINGAPORE June 26- Brent crude dropped under $114 a barrel on Thursday as most of Iraq's oil output remained unaffected by the militant insurgency in the country, although worries over the conflict kept a floor under prices.
SINGAPORE June 26- Brent crude fell below $114 a barrel on Thursday as most of Iraq's oil output remained unaffected by the militant insurgency in the country, although worries over the conflict kept a floor under prices.
SINGAPORE June 26- U.S. crude futures edged up towards $107 a barrel in early Asian trade on optimism over U.S. oil exports after Washington approved exports of lightly refined oil, although gains were capped by an unexpected rise in crude inventories.
The Commerce Department's action could unleash as much as $6 billion a year of condensate onto the global market, analysts say.
The Commerce Department's decision to allow unrefined U.S. oil exports creates clear winner and losers.
Shares of oil and gas producer Pioneer Natural Resources Co and pipeline company Enterprise Products Partners LP rose after the companies received a private ruling from the U.S. Department of Commerce to export the condensate. Shares of Eagle Ford shale producers Rosetta Resources Inc and SM Energy Co were up more than 4 percent in afternoon trading.
Take a look at some of Wednesday's midday movers.
BISMARCK, North Dakota, June 24- North Dakota intends to nearly double its oil and gas pipeline capacity within two years as part of a plan to curb the wasteful flaring of natural gas in the bustling Bakken oil field, the state's governor said on Tuesday.