Popular News From Popular Sites: Following long ban, U.S. could dominate global light oil supply

Sunday, June 29, 2014

Following long ban, U.S. could dominate global light oil supply

The Valero St. Charles oil refinery is seen during a tour of the refinery in Norco By Edward McAllister NEW YORK (Reuters) - 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. Following rulings disclosed this week, U.S. companies can now export the light, gaseous petroleum known as condensate after a forty-year ban, giving them access to needy markets in Latin America and Asia and potentially threatening the dominance of other established producers in the Middle East and Africa. Companies are ready to ship condensate from some of the United States' massive oil and gas fields within weeks. "It could have an enormous impact," said Al Troner a condensate expert and president of Asia Pacific Energy Consulting.




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