12:46 GMT27 September 2020
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    A US energy company told Sputnik that global merchant giant Vitol Group will move 600,000 barrels of unrefined crude from the United States to an overseas buyer next week in the first such shipment in 40 years.

    WASHINGTON (Sputnik) — Global merchant giant Vitol Group will move 600,000 barrels of unrefined crude from the United States to an overseas buyer next week in the first such shipment in 40 years, a US energy company told Sputnik on Tuesday.

    "Our function as a mid-stream operator is to provide infrastructure such as pipeline and terminal services for the shipment," Enterprise Products Partners spokesperson Rick Rainey said.

    Rainey explained that Vitol, a European-based energy and commodities company, will accept the oil from Enterprise at a Houston, Texas terminal in the first week of January 2016.

    Since details of the deal are not yet public, the final destination was not disclosed, and Vitol did not respond to a request by Sputnik for comment.

    Enterprise stated the shipment will be the first of its kind since President Barack Obama signed a bill earlier in December repealing a ban on exports of unrefined oil that had been in place since the mid-1970s.

    In response to an Arab oil embargo earlier in the decade, the US banned oil shipments to destinations outside of North America. Recent increases in oil production have produced a glut in parts of the United States, increasing pressure to end the ban.

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    Tags:
    crude exports, shipment, ban, United States
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