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Exxon Mobil Corporation (NYSE:XOM) is the first US oil major to export American crude oil outside the US. The company has shipped oil to its refinery in the Mediterranean, Bloomberg reports, citing sources familiar with the matter. The move will likely ease pressure off of local crude supply.

The company’s Maran Sagitta oil tanker, which sailed from Texas last month, has reached the port of Augusta, Sicily, the sources told the publication. Exxon’s latest initiative to ship oil abroad follows the lifting of the 1975 oil export ban. Earlier this year, European crude oil majors and several other independent trading houses, including Trafigura Pte, began shipping sweet, light crude oil overseas.

 

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