Drilling rigs in south Texas need an opportunity to work. Request for the abolition of the ban on oil exports

The heads of the 11 largest oil companies that have drilling rigs in south Texas, at a meeting with President Barack Obama’s representative, were asked to close the ban lifted on oil exports from the United States. Among the reasons, there are a serious difference in domestic and international raw material prices, as well as record oil reserves in the US.

Representatives of major US oil companies appealed to the White House with a request to abolish the ban on exports from the country of crude oil, which has been in effect for the past 40 years.

photo of ship on inside oil rig

Over the past week, there were held several meetings with representatives of the White House, congressmen and senators of the heads of such companies as:

  • ConocoPhillips
  • Exxon Mobil
  • Occidental Petroleum
  • Marathon Oil
  • Chesapeake Energy, as well as representatives of other oil companies.

Perspectives of the ban lifted on oil exports

As the newspaper notes, oil companies are striving to lift the ban on oil exports, in particular, because the price of oil in the US is about $10 lower than the price of the global standard Brent. The lifting of the ban on exports will allow US producers to sell their oil at higher prices.

Thanks to the free oil trade in the conduct of sound reforms, the US energy security will increase, and the sector will continue to lead in the field of innovations that allow for the safe and responsible development of energy.

Read More:  Jeremy Oguin became one of the speakers during the Break bulk conference in 2017

Statistics from Conocophillips eagle ford

According to the US Energy Ministry, oil reserves in the country increased by 4.5 million barrels to 448.9 million barrels last week, the highest value for the last 80 years. In addition, as reported by the International Energy Agency on Friday, currently the level of filling of oil storage facilities in the US is close to the maximum.