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 benchmark for North Sea oil one-third of the time, according 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...]
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 announcement follows seven other proposed crude export terminals vying to build a … [Read more...]
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. The Houston pipeline operator is still actively exploring the construction of … [Read more...]
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 greater or the competition more fierce than in Corpus Christi, Texas, where … [Read more...]