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As oil exports remain banned, US companies push for swaps

John Deede | Shale Plays Media Google+

Political pressure has been increasing lately to remove the current oil export ban. Although natural gas condensates have been approved for export, the current “light” crude pumping out of shale wells has not.  The next step may be the approval of crude oil “swaps.” Jennifer A. Dlouhy from FuelFix.com reports:

Fresh from winning approval to export processed condensate, they now are seeking government approval to exchange U.S. crude for foreign oil.

The tactic is another way oil companies can work within the 39-year-old export ban — rather than wait for Congress or the Obama administration to spike it altogether — to find new foreign customers for light, sweet U.S. crude beyond the domestic refineries currently ill-suited to process it.

Read the full article here: Swaps could be next way around oil export ban

Related: The oil export ban calamity

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