U.S. to export first condensate to Asia


Last month's decision by the Commerce Department to allow exports of condensate (minimally refined ultra-light oil), has paved the path for the U.S. energy industry to become a main supplier in the market.

South Korea's GS Caltex and Japan's Cosmo Oil (OTCPK:CMOOY) were the first to purchase the new exports.

As Europe and Asia seek alternative supplies due to the disruption fears of geopolitical crises, stable U.S. condensate demand is set to increase.

ETFs: USO, OIL, UCO, SCO, BNO, DTO, DBO, CRUD, USL, UWTI, DWTI, DNO, SZO, OLO, OLEM, TWTI

Comments (4)
  • Scooter-Pop
    , contributor
    Comments (4575) | Send Message
     
    Who was the Seller of the Condensate sold to Cosmo?
    24 Jul 2014, 03:56 AM Reply Like
  • al roman
    , contributor
    Comments (16558) | Send Message
     
    Ancient Chinese secret.
    24 Jul 2014, 07:17 AM Reply Like
  • User 353732
    , contributor
    Comments (5152) | Send Message
     
    Free trade in energy in energy benefits all involved.
    Increased condensate, refined product, LNG and within a few years, crude will create more wealth, income and jobs in the US while delivering strategic and economic value to foreign consumers.
    24 Jul 2014, 08:07 AM Reply Like
  • ur a fool
    , contributor
    Comments (3) | Send Message
     
    Serious question: How can a minimally refined oil be ultra-light?
    24 Jul 2014, 09:08 AM Reply Like
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