WSJ: the resumption of oil exports from the US is expected in January 2016

WSJ: the resumption of oil exports from the US is expected in January 2016


NEW YORK, December 24. /Corr. Igor Borisenko/. The first in the last 40 years of American supplies of oil for export in January 2016 will implement a Texas energy company Enterprise Products Partners.

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In the U.S. lifted a ban on the export of American oil, which operated for 40 years

As reported in Wednesday newspaper the Wall Street Journal, in the first week of January, the company intends to ship 600 thousand barrels of oil produced in the southern part of the state of Texas, with a terminal in Houston. “This announcement follows less than a week after the U.S. Congress abolished the effect of 40 years ban on crude oil exports, noted the newspaper. – This batch of oil acquires Dutch company “Vitol group” (Vitol Group)”.

Oil will be delivered to a refinery in Switzerland, where diesel and other fuels are supplied to the countries of Northern Europe. “The supply of American oil to Europe, – said the newspaper – to compete with the oil supply from Saudi Arabia, Russia and Iran”.

The ban on exporting oil from the USA was initiated as a result of the energy crisis that emerged after the 1973 Arab countries impose oil embargo against the U.S. and Western Europe for their support of Israel.

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Oil prices for 30 years

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