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GS Caltex buys first U.S. condensate cargo since softening of U.S. ban - sources
July 24, 2014 / 3:00 AM / 3 years ago

GS Caltex buys first U.S. condensate cargo since softening of U.S. ban - sources

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SINGAPORE/SEOUL, July 24 (Reuters) - South Korean oil refiner GS Caltex has purchased the first condensate cargo to be exported from the United States since the easing of a 40-year ban on U.S. oil exports, three industry sources familiar with the matter said on Thursday.

The cargo will be loaded in late July, the sources said.

The United States has recently softened a total ban on oil exports in place since the Arab oil embargo of the 1970s.

GS Caltex, a joint venture between GS Holdings and Chevron Corp, declined to comment. (Reporting by Florence Tan in Singapore and Meeyoung Cho in Seoul; Editing by Ryan Woo)

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