U.S. Eases 40-Year Crude Export Ban by Allowing Mexico Swap

RSS

The U.S. agreed to allow some crude to flow to Mexico in the latest step toward easing a 40-year ban on most domestic oil exports.

Up to 100,000 barrels a day of light oil and condensate will be exchanged for heavy Mexican crude, according to Petroleos Mexicanos, the state-owned oil company. Canada is the only other nation that is exempt from the prohibition on exports. Requests from less than a dozen other unidentified countries to import U.S. crude were denied, said a senior administration official who asked not to be named according to U.S. policy.

Read more.....

Previous Post Next Post

  • Chance Gristy
Comments 0
Leave a comment
Your Name:*
Email Address:*
Message: *

Please note: comments must be approved before they are published.

* Required Fields