Christian Davis Quoted by Reuters on Commerce Dept. Hold on Crude Oil Exports
Reuters, for its article “U.S. condensate oil export requests put on hold for now,” quoted Akin Gump international trade counsel Christian Davis on the U.S. Commerce Department’s Bureau of Industry and Security (BIS) placing an indefinite pause on the process whereby requests are reviewed for permission to export condensate, an ultra-light oil seeing growing demand.
According to the article, even as a number of energy companies request clarification from BIS as to whether or not they may export condensates, the guidance each receives cannot serve as precedent for others due to the confidential nature of the decisions. Davis added, “There is political pressure surrounding this and I think any slowdown would be related to making sure BIS is providing consistent advice.”