Register with us today

and in less than 60 seconds continue your access to:Latest news headlinesAnalytical topics and featuresCommodities videos, podcast & blogsSample market prices & dataSpecial reportsSubscriber notes & daily commodity email alerts

Already have an account?

Log in to register

Forgot Password

Please Note: Platts Market Center subscribers can only reset passwords via the Platts Market Center

Enter your Email ID below and we will send you an email with your password.

  • Email Address* Please enter email address.

If you are a premium subscriber, we are unable to send you your password for security reasons. Please contact the Client Services team.

If you are a Platts Market Center subscriber, to reset your password go to the Platts Market Center to reset your password.

In this list

South Korea top of the list as US' Continental mulls oil exports

LNG | Natural Gas | Natural Gas (North American) | Oil | Crude Oil

Has the oil market found balance?


Platts Market Data – Oil

NGL | Oil | Crude Oil | LPG | Oil Risk | Petrochemicals

Platts University New York

Oil | Crude Oil

Brazil deserves seat in OPEC: Barkindo

South Korea top of the list as US' Continental mulls oil exports

New York — South Korea is at the top of the list for Continental Resources as it mulls over potential export destinations for crude and condensates, chairman and CEO Harold Hamm said Thursday.

Not registered?

Receive daily email alerts, subscriber notes & personalize your experience.

Register Now

Hamm said exports of oil were a feature of Continental's longer term production growth plan, as US producers in general are looking to increase production amid higher crude oil prices.

South Korean buyers have been among the friendliest buyers reaching out to US producers, since the US lifted an effective ban on exports at the end of 2015.

"The first people that called me to congratulate on lifting the ban was South Korea," said Hamm, adding that the country was top of the list of possible lifters going forward.

Hamm said Continental wouldn't completely rely on traders buying crude for export and bringing the oil to export destinations through arbitrage in the spot markets. "Continental is capable of making those deals without other parties," said Hamm.

After hitting a record high in September, US crude exports fell 201,000 b/d to 491,000 b/d in October as Suezmax freight spiked and the Brent/WTI spread narrowed, an S&P Global Platts analysis of US Census Bureau data released earlier this week showed.

As a result of rising freight and the narrowing Brent/WTI spread, US crude exports to Europe fell from a record 209,000 b/d in September to just 68,000 b/d in October. In September, the US recorded 99,000 b/d in shipments to Singapore -- another record -- but the flow dried up completely in October.

--Dave Ernsberger,

--Edited by Maurice Geller,