U.S. will allow exports of condensate -WSJ

WASHINGTON, June 24 Tue Jun 24, 2014 6:01pm EDT

WASHINGTON, June 24 (Reuters) - U.S. federal officials have approved exports of the kind of ultra-light oil known as condensate by two companies, a step that effectively loosens a ban on most crude oil exports in place for four decades, the Wall Street Journal reported on Tuesday.

The U.S. Commerce Department gave approval via a private ruling to Pioneer Natural Resources Co. and Enterprise Product Partners LP to export the condensate, the newspaper said.

The companies were not immediately available for comment. (Reporting by Ros Krasny; Editing by Sandra Maler)