House-Senate panel approves exports of North Slope oil

Oct. 9, 1995
A House-Senate conference committee has approved a measure that repeals a ban on the export of Alaskan North Slope (ANS) crude oil. It also voted to allow royalty relief for marginally economic, deepwater oil and gas fields in the Gulf of Mexico. Conferees will continue work on the legislation when Congress resumes work Oct. 10. One of the remaining provisions would grant the offshore oil industry relief from tough spill insurance requirements under the 1990 Oil Pollution Act.

A House-Senate conference committee has approved a measure that repeals a ban on the export of Alaskan North Slope (ANS) crude oil.

It also voted to allow royalty relief for marginally economic, deepwater oil and gas fields in the Gulf of Mexico.

Conferees will continue work on the legislation when Congress resumes work Oct. 10. One of the remaining provisions would grant the offshore oil industry relief from tough spill insurance requirements under the 1990 Oil Pollution Act.

The ANS export provisions, which the Clinton administration supports, will allow exports only if they are carried in U.S. flagged tankers.

The bill requires the president to determine if such oil exports are in the national interest, study the environmental effect of exports, and prepare a report on how exports would affect domestic jobs, consumers, and oil supplies. The bill allows the president to suspend ANS oil exports in national emergencies.

The compromise language also will require the congressional General Accounting Office to report on how exports will affect consumers, independent refiners, and shipyards. Copyright 1995 Oil & Gas Journal. All Rights Reserved.