China's Sinopec Buys US Oil Scheduled to Ship in March

Highly informative article about China's buying of US oil.  Obviously the trade embargo is lifted!  This article gave me a basic understanding of China and its oil processing.

Does anyone know why shipments from Gulf Coast are limited to 600,000 barrels, , ,I am interested in the reasoning behind it, , ,not an answer of it is a US regulation.

http://www.reuters.com/article/us-usa-oil-china-exclusive-idUSKCN0U...

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Permalink Reply by Larry Manges on January 15, 2016 at 1:33pm

Could it be because of a limit on the size of ships that can travel through the Panama Canal.

Permalink Reply by Joseph-Ohio on January 19, 2016 at 9:17am

Read on here earlier that China owns 1/3 of the Permian Basin Oil Fields.

Thinking that may be a reason for China being the 1st country to purchase crude (after the lifting of the ban).

The article mentioned / cited that shipping restrictions in the gulf limited the initial shipment to China to 600,000 barrels.

Larry Manges might have hit the nail on the head about the Panama Canal limiting the size.

Permalink Reply by Joseph-Ohio on January 19, 2016 at 9:30am

Read about 'draft' restrictions for Gulf Coast shipping as well.

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