From: Reuters
By Selam Gebrekidan and Nia Williams
(Reuters) - Enbridge Inc (ENB.TO)
has obtained a license to re-export Canadian oil from the United
States, becoming the first company to publicly confirm a move that could
fuel debate over U.S. trade policy and oil sands pipelines.
U.S. subsidiary Tidal Energy Marketing has a license to export "limited quantities" of Canadian-origin oil from a U.S. port, Enbridge said, confirming weeks of market rumours and speculation about such shipments. Market sources say they expect the first cargoes to sail for Europe later in April.
Terri Larson, an Enbridge spokeswoman, told Reuters in an email that the firm planned to export "less than 1.5 percent of Enbridge's total U.S. shipments." She declined to provide specifics on the port of departure, the destination or the type and volume of oil involved, saying this is commercially sensitive information.
The United States does not allow exports of its own oil, even though its domestic output is at a 26-year high. There are few exceptions to the rule; shipments can go to Canada, for example, and foreign oil can leave U.S. shores so long as exporters have a license. MORE
By Selam Gebrekidan and Nia Williams
U.S. subsidiary Tidal Energy Marketing has a license to export "limited quantities" of Canadian-origin oil from a U.S. port, Enbridge said, confirming weeks of market rumours and speculation about such shipments. Market sources say they expect the first cargoes to sail for Europe later in April.
Terri Larson, an Enbridge spokeswoman, told Reuters in an email that the firm planned to export "less than 1.5 percent of Enbridge's total U.S. shipments." She declined to provide specifics on the port of departure, the destination or the type and volume of oil involved, saying this is commercially sensitive information.
The United States does not allow exports of its own oil, even though its domestic output is at a 26-year high. There are few exceptions to the rule; shipments can go to Canada, for example, and foreign oil can leave U.S. shores so long as exporters have a license. MORE
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