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 halted vessel traffic for several days and disrupted movements in the … [Read more...]

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 will soon be joined by more ships that will make the two-month voyage from … [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...]

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 crude being pumped than America’s refineries can absorb. Today, the primary … [Read 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 benchmark for North Sea oil one-third of the time, according to … [Read more...]