The Port of Corpus Christi is celebrating the start of dredging work in the project to expand the Corpus Christi Ship Channel to prepare the port for the anticipated increase in U.S. crude oil exports overseas. The Port of Corpus Christi Ship Channel Improvement Project will deepen and widen the entrance ship channel from 47 to 54 feet and widen it from 400 to 530 … [Read more...]
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 lease 200 acres along the port of Corpus Christi where it has proposed a … [Read more...]
Environmental Review Could Delay Gulf Coast’s First Deepwater Oil Export Project Up to 18 Months
By Collin Eaton HOUSTON, March 14 (Reuters) - A Carlyle Group $1 billion deepwater crude export project faces a delay of up to 18 months after regulators called for a full environmental review, officials said, a setback in the private equity firm's race to be first to open a new deepwater, U.S. Gulf Coast export hub. Carlyle and commodities trader Trafigura AG are vying to … [Read more...]
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 slowing down, with plans to double crude exports to 600,000 barrels per day … [Read more...]
Texas City Takes on Trading Giant in Testy Fight for Oil Exports
By Stephen Cunningham (Bloomberg) -- Trafigura Group Ltd., the world’s third-largest independent oil trader, is fine as a customer. But the Port of Corpus Christi doesn’t want to see it as a competitor with billions of dollars at stake. Port officials are urging Trafigura to scrap a proposed export terminal located 13 miles off the coast that would compete with an onshore … [Read more...]