World News: 21:18 GMT Friday 27th June 2014. [Yahoo Business News Feed via SPi World News]
All U.S. crude that is processed by a distillation tower, not only light oil known as condensate, is exempt from the 40-year crude export ban, U.S. government and industry sources said on Friday. The Department of Commerce determined this week that two companies that produce condensate, a light oil, can export the petroleum if it is processed by a distillation tower. The Department of Commerce told Irving, Texas-based Pioneer Natural Resources and Houston-based Enterprise Product Partners this week that they can export crude that has been lightly processed after they asked the department for clarification.
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