Oil companies are securing licences to export US crude at a frantic pace as the shale boom leads to swelling supplies along the Gulf of Mexico.
The US government granted 103 licences to ship crude oil abroad in its latest fiscal year, up by more than half from the 66 approved in 2012 and the highest since at least 2006, according to data obtained by the Financial Times.
All but a dozen of last year’s licences were to Canada, where companies may buy US crude as long as they refine it there.
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