OGJ Newsletter

11/25/2013
GENERAL INTEREST — Quick Takes ConocoPhillips exec wants ban lifted on US oil exports Ryan Lance, chief executive officer of ConocoPhillips, said lifting an existing US ban on exporting crude oil could encourage more production from tight oil formations. Speaking Nov. 19 at the Deloitte Oil & Gas Conference in Houston, Lance said many US refineries are set up to process heavy, sour crude from Canada and South America rather than the light, sweet crude coming from US unconventional plays. "The refineries are tooled up for sour crudes, with only so much capacity for light sweet crudes," he said. Refineries overseas likely could process the light, sweet crude cheaper than cou...
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