[US] Export Controls on Crude Oil and Petroleum Products Outlined

The [US] Bureau of Industry and Security posted to its Web site recently the following information regarding U.S. controls on exports of crude oil and petroleum products.

Crude oil is defined in the Section 754.2(a) of the EAR as “a mixture of hydrocarbons that existed in liquid phase in underground reservoirs and remains liquid at atmospheric pressure after passing through surface separating facilities and which has not been processed through a crude oil distillation tower. Included are reconstituted crude petroleum, and lease condensate and liquid hydrocarbons produced from tar sands, gilsonate, and oil shale. Drip gases are also included, but topped crude oil, residual oil, and other finished and unfinished oils are excluded.”...

This has been excerpted from the 15 January 2015 article by Sandler, Travis & Rosenberg.