The U.S. had started exporting oil after 40 years. President Barack Obama signed legislation lifting the long-standing ban on exporting U.S. oil., which was put into place during the 1970s. On Thursday the first tanker will be loaded.
ConocoPhillips Co. COP, NuStar Energy LP NS and Enterprise Products Partners LP are racing to send the first cargo of American crude in Houston during the first week of January.
The first shipment of U.S. crude could sail from NuStar’s dock in Corpus Christi, Texas. ConocoPhillips pumped the oil from the Eagle Ford Shale formation in South Texas.
Source: Market Watch