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Exxon is first US oil major to export American crude: sources

It joins band of independent traders trying to ease glut

Published Fri, Mar 4, 2016 · 09:50 PM
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New York

Exxon Mobil Corp has become the first major US oil company to ship American crude overseas, joining a band of independent traders that are trying to ease a glut at home after a 40-year export ban was lifted.

Exxon shipped US crude into a refinery it owns in Sicily, according to a person familiar with the matter and three traders and ship brokers. The Maran Sagitta oil tanker sailed in early February from Beaumont, Texas, where Exxon operates a refinery. It recently arrived in the Italian port of Augusta.

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