BHP Billiton is set to sell condensate to a foreign buyer without explicit approval from the government. Via the Wall Street Journal, the Commerce Department has been encouraging companies to pursue “self-classification” instead of waiting for government approval to export their minimally refined light oil. Commerce officials, however, have maintained there has been no change in U.S. crude oil export policy. BHP Billiton struck a $50 million deal to sell 650,000 barrels of condensate to Swiss trading firm Vitol SA.
SEE ALSO: Cheniere Energy may build condensate export facility in Texas
