June 17, 2014 / 4:48 PM / 4 years ago

U.S. approved 13 oil re-export licenses in May

NEW YORK, June 17 (Reuters) - The U.S. Department of
Commerce approved 13 crude oil re-export licenses in May, the
latest department data showed on Monday.
    Among the approved permits were licenses for exports of
foreign-origin oil to China, Spain, South Korea, the Netherlands
and the United Kingdom. The department did not specify the
destination for one of the licenses it permitted.
    Seven additional licenses were approved for exports of U.S.
oil to Canada. 
    The United States does not allow exports of its own oil with
few exceptions such as barrels heading to Canada and the
re-export of foreign oil. Exports under the exemptions need to
be approved by the department's Bureau of Industry and Security.
    All licenses are valid for one year. Below is a list of
those approved in May.
   Destination              Number of licenses
   China                    1
   Spain                    1
   Korea, Republic of       1 
   Netherlands              1
   United Kingdom           1
   Various*                 1
   Canada**                 7
    * Countries may include Argentina, Belgium, Brazil, Canada,
Chile, Finland, France, Germany, Greece, Israel, Italy, Japan,
Korea, Malaysia, Morocco, Netherlands, Norway, Poland,
Singapore, Spain, Sweden, Switzerland, Taiwan, Thailand, Turkey
and United Kingdom. 
    ** Licenses are for exports of U.S. oil to Canada.


 (Reporting by Valerie Volcovici, Writing by Catherine Ngai;
Editing by Jessica Resnick-Ault and Jonathan Oatis)
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