By Collin Eaton HOUSTON, June 19 (Reuters) – U.S. oil refiner Phillips 66 is proposing a deepwater crude export terminal off the U.S. Gulf Coast, challenging at least eight other projects aiming to send U.S. shale oil to world markets, according to a memo and a source who asked not to be named. The...
u.s. oil exports
Enterprise Products Says Crude Volumes at Marine Terminals Hit Record
By Devika Krishna Kumar NEW YORK, May 1 (Reuters) – Enterprise Products Partners LP said on Wednesday volumes at its crude marine terminals jumped to a record of nearly 900,000 barrels per day (bpd) in the first quarter, despite a disruption on the Houston Ship Channel. A petrochemical fire and fog...
U.S. Oil Flowing Freely to China Again
By Serene Cheong (Bloomberg) — It seems Asia’s biggest oil buyer can’t stay away from crude pumped in the world’s fastest-growing supplier for long. A supertanker laden with U.S. oil is floating off China’s eastern coast, awaiting discharge at one of the Asian nation’s busiest ports. The vessel...
Proposed $1 Billion Corpus Christi Oil Export Terminal Moves Forward
HOUSTON, March 28 (Reuters) – A proposed $1 billion deepwater oil-export project moved ahead on Thursday with U.S. private equity firm Carlyle Group agreeing to a 50-year lease on land near Corpus Christi, Texas, for a terminal. Officials of Carlyle-backed Lone Star Ports LLC on Thursday agreed to...
From Texas to the World: Flood of U.S. Oil Exports Is Coming
By Javier Blas (Bloomberg) –Oil trader Paul Vega is at the vanguard of shale’s next revolution. Driving his pick-up truck through the heartland of the Permian basin — the vast tract of west Texas scrub where one of history’s greatest oil booms means miles-long traffic jams — Vega says there’s more...
As U.S. Oil Grows, So Does Its Influence on Global Prices
By Alex Longley and Sheela Tobben (Bloomberg) — For a glimpse into what the global oil price might look like one day, a good place to look is the Dutch port of Rotterdam. There, at a key hub for Europe’s oil trading and refining, crude imported from the U.S. is determining the price for an aspiring...
Occidental Emerges as Heavy Hitter in U.S. Oil Export Boom
By Devika Krishna Kumar and Florence Tan NEW YORK/HOUSTON, March 11 (Reuters) – Occidental Petroleum Corp has emerged as one of the biggest exporters of U.S. shale oil, rivaling large trading firms and oil majors, in a market now worth more than $150 million every day. It is showing no signs of...
Sentinel Plans U.S. Oil Export Terminal Off Freeport, Texas
HOUSTON, Feb 11 (Reuters) – Sentinel Midstream on Monday became the latest contender in the race to build a crude export terminal off the U.S. Gulf Coast, announcing plans to develop a facility off Freeport, Texas that could fully load a supertanker in one day. The Dallas-based company’s...
Magellan Eyeing Freeport, Texas for Crude Export Terminal
HOUSTON, Jan 24 (Reuters) – Magellan Midstream Partners LP has begun talks with companies developing crude transportation assets in Freeport, Texas, as it considers building a U.S. crude export terminal there instead of its previously planned spot off Corpus Christi, an executive said on Thursday....
U.S. Oil Export Boom Sparks a Battle to Build Texas Port
By Collin Eaton CORPUS CHRISTI, TEXAS, Jan 10 (Reuters) – Booming U.S. oil exports have set off a scramble to build Gulf Coast ports to handle more than 3 million barrels per day in new supplies expected over the next five years. Of seven proposed oil-export projects, nowhere is the opportunity...