September 2014

Columns

HP Petrochemicals: US condensate exports send ripple effects downstream

The US, which a decade ago was considered an aging has-been in oil and gas production, now leads the globe in production, and a growing bucket of these crudes is light and sweet.

McGinn, S., World Oil

A cargo vessel carrying oil products leaving the US for international destinations usually does not turn heads, but one recent ship to cross the Pacific made waves around the globe. Inside the ship was petroleum condensate, an ultra-light hydrocarbon characterized as having an API gravity of 50° or higher. Enterprise Products Partners reportedly sold the cargo to a South Korean buyer, GS Caltex. With a ruling in hand from the Department of Commerce’s Bureau of Industry and Security (BIS) stating that lightly processed (Fig. 1), stabilized crude oil qualifies as a suitable product for export, Enterprise and upstream operator Pioneer Natural Resources have essentially paved the roa

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