Pioneer Resources CEO Scott Sheffield confirmed this week the company has exported its second round of condensate exports - this time to Europe - during an investor webcast presentation. The first exports were to the Asian market in South Korea in July.
In June, Pioneer and Enterprise Products Partners, a midstream service provider, received permission from the U.S. Commerce Department (U.S. DoC) to export minimally processed condensate to foreign buyers. Other major operators in the Eagle Ford like BHP Billiton have also applied for permits, but have not gotten the nod from the U.S. DoC.
Read more: Eagle Ford's BHP Billiton Seeks to Export Condensate
“I expect the commerce department to approve several more permits, primarily for condensate, in the Eagle Ford, as long as it goes through the distillation process. I am optimistic this administration or the next one will remove the export ban.”
he pressure to lift the oil export ban is mounting from other industry executives. This week, Shell's CEO Ben van Beurden urged Barack Obama to lift the ban during a speech he gave at Columbia University.
“Would reinforce the long term future of North American energy production, and help make the global energy system more stable.”
Under the oil export ban, refined products can be exported. Pioneer's minimally processed condensate exports are considered a refined product by the U.S. DoC.
Listen to the Pioneer Webcast