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Exxon Seeks Long-Term Deals for U.S. Oil Exports

  • Oil major in talks with Asian refiners on term deals: people
  • Volume, timing and price said still to be determined
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Photographer: Derick E. Hingle/Bloomberg

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Exxon Mobil Corp. is courting refiners with rare long-term U.S. crude export deals, according to people familiar with the matter, as the company expands its trading scope.

The oil giant has approached several refiners to discuss contracts for exports of light, sweet crude from the prolific Permian Basin starting as early as this year, said the people, who asked not to be identified because the discussions are private. The talks are in early stages, with volumes, timing and price still to be determined.