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Permission To Ship Ultralight Oil An ‘Incremental Step’

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By Darren Barbee, Hart Energy
June 25, 2014

The U.S. Commerce Department cracked open the door for exports of very light oil this week, with two companies receiving private letter rulings allowing them to ship lease condensate overseas.

Pioneer Natural Resources Co. (NYSE: PXD) and Enterprise Product Partners LP (NYSE: EPD) received permission from the U.S. Commerce Department's Bureau of Industry and Security allowing them to export treated lease condensate.

Lease condensate is considered too light to be crude but is nevertheless trapped by law from leaving the United States. Lease condensate is not optimal as a feedstock ...

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