Topics

Energy Resources
Alaska oil, exported for first time in a decade, heads to South Korea
Alaska oil, exported for first time in a decade, heads to South Korea

A tanker carrying oil from Alaska’s North Slope is heading to South Korea, the first such export in a decade, officials confirmed on Tuesday. The oil shipment, though considered relatively small, is significant because it focuses attention on the complicated issue of the 40-year-old U.S. ban on exporting crude oil that has been in effect for the Lower 48 states. Alaska was exempt from the ban in 1996. The tanker Polar Discovery owned by ConocoPhillips left Valdez in Alaska on Sept. 26 and is expected to arrive Oct. 10 at Yeosu, South Korea, according to the energy intelligence firm Genscape. The tanker can carry up to 784,000 barrels of crude. ConocoPhillips would not directly...

Loading