Occidental Petroleum on Thursday is loading Permian Basin crude onto a VLCC at the Moda Ingleside Energy Center near Corpus Christi, Texas, with three more VLCCs booked to follow through late January, all of which are on subjects or fully fixed with options for discharge in Europe. A spokesman for the company confirmed late Wednesday the vessel loading will be the first VLCC to deliver US oil to Europe, where Permian crude is in high demand. VLCC movement from the USGC to Europe is very uncommon, as most VLCCs with Americas-origin cargoes discharge in Asia. According to data from S&P Global Platts cFlow trade flow software going back to 2015, no vessel has carried a cargo of crude on a VLCC from the US Gulf Coast to Europe. The Olympic Lady, also known as Nasiriyah, […]