BIS Clarifies US Crude Oil Export Rules, Barton to Reintroduce Lifting Bill
The Bureau of Industry and Security (BIS) has clarified rules surrounding US crude oil prices, resolving a long-standing debate. Rep. Joe Barton (R-TX) plans to reintroduce a bill to lift export restrictions, while BIS has issued guidance on what constitutes sufficient processing to convert crude oil into a petroleum product. BIS administers the Export Administration Regulations (EAR), which previously prohibited crude oil prices exports without a license. However, crude oil processed through a distillation tower, as outlined in FAQ #4, is generally considered a 'petroleum product' and exempt from these restrictions. BIS' FAQ #6 addresses the commingling of foreign and domestic crude oil prices in license applications for exports of foreign crude oil. In 2014, BIS issued classification rulings allowing the export of 'lightly' processed condensate without a license. Despite search efforts, the name of the company that received this authorization remains unknown. BIS acknowledges minimal mixing due to incidental contact in pipelines and storage tanks, encouraging applicants to explain precautions taken to prevent mixing. BIS' recent actions and FAQ guidance, issued on December 30, 2021, aim to clarify what constitutes sufficient processing to convert crude oil prices into a petroleum product. Administration officials believe these actions have resolved the debate surrounding the lifting of the ban on crude oil prices exports. Rep. Joe Barton (R-TX) is set to reintroduce a bill to lift the export restrictions on crude oil prices, reflecting the ongoing debate and potential changes in policy. Meanwhile, BIS continues to provide guidance on the processing and export of crude oil prices, ensuring compliance with US regulations.
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