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...]
VLCC Exports Picking Up at Louisiana Offshore Oil Port
By Sheela Tobben (Bloomberg) -- The Louisiana Offshore Oil Port is pushing out the most crude it’s shipped in any one month since the terminal began supertanker exports in February. As the race to build new supertanker ports in the U.S. intensifies, LOOP this week is poised to send out three Very Large Crude Carriers, or VLCCs, carrying 6 million barrels of crude … [Read more...]
U.S. Becomes Net Oil Exporter for First Time in 75 Years, If Only Briefly
By Javier Blas (Bloomberg) -- America turned into a net oil exporter last week, breaking 75 years of continued dependence on foreign oil and marking a pivotal -- even if likely brief -- moment toward what U.S. President Donald Trump has branded as "energy independence." The shift to net exports is the dramatic result of an unprecedented boom in American oil production, with … [Read more...]
Rising U.S. Crude Output Sparks Race to Build Export Terminals
By Jarrett Renshaw and Collin Eaton NEW YORK/HOUSTON, Oct 30 (Reuters) - A high-stakes competition is emerging among energy exporters proposing multi-million-dollar crude terminals along the U.S. Gulf Coast to handle a gusher of shale oil coming from West Texas oilfields. On Monday, private equity firm Carlyle Group became the latest to place a bet, proposing with the Port … [Read more...]
Carlyle Group to Develop VLCC Oil Export Terminal at Port of Corpus Christi
Private equity firm The Carlyle Group announced Monday it has signed an exclusive agreement with the Port of Corpus Christi to develop a major crude oil export terminal that is capable of handling fully-laden Very Large Crude Carriers. The terminal will be located on Harbor Island, which is situated on Red Fish Bay opposite the city of Aransas Pass, Texas. The site … [Read more...]