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Tuesday, January 5, 2016
The US saw the first tanker of US crude for export leave the Port of Corpus Christi on December 31. This follows legislation lifting a four-decade ban on crude exports.
ConocoPhillips and NuStar Energy were the owners of the crude loaded into the tanker, making them the first to export crude from the US under the new legislation. The crude comes from operations at Eagle Ford Shale in south Texas.
The two firms were not originally supposed to be the first to export from the US, that distinction was intended for Enterprice Products Partners, however ConocoPhillips and NuStar skipped to the front of the line.
Vitol Group is buying the oil cargo, according to NuStar. Vitol also is buying the US crude-oil cargo that will ship out of Houston during the first week of 2016.
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