Congress repeals US oil export ban

UPDATE: President Obama signed into law the lifting of the ban.

The US Congress voted on Friday to repeal the 40-year-old ban on exporting US crude oil.

The Senate, on a 65-33 vote, passed a $1.1 trillion government spending bill that included the measure to lift the export ban and provide five-year extensions of tax breaks to boost development of renewable energy. Earlier on Friday, the House of Representatives also passed the measure, 316-113.

The legislation now goes to President Barack Obama, who is expected to sign the bill into law.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...