Carlyle Group Names Manager for U.S. Crude Export Terminal in Corpus Christi

By Collin Eaton HOUSTON, Dec 14 (Reuters) - Lone Star Ports LLC will lead development and operation of a Carlyle Group-backed crude export terminal in Corpus Christi, Texas, that can fully load supertankers, according to a statement from the project leaders on Friday. Carlyle Group and the Port of Corpus Christi Authority in October jointly proposed building a $1 billion … [Read more...]

Phillips 66 Wins Tender to Sell U.S. Crude to Pemex

By Marianna Parraga MEXICO CITY, Oct 22 (Reuters) - Refining firm Phillips 66 was awarded a tender to supply Mexico's Pemex with at least four 350,000-barrel cargoes of U.S. Bakken crude for November delivery, traders with knowledge of the offer's results said on Monday. The purchase, which will be the state-run company's first crude import in over a decade, was requested … [Read more...]

What Caused A Fall In U.S. Crude Exports? Money or Politics?

by Clyde Russell (Reuters) - One of the side effects of President Donald Trump’s escalating trade dispute with China is that U.S. exports of crude oil to the world’s biggest importer are now viewed through the prism of politics. However, this ignores that buyers and sellers of crude are generally more motivated by profit margins and getting the right grades of oil to … [Read more...]

Port of Corpus Christi Bond Sale Raises $216.2 Million for Ship Channel Dredging Project

The Port of Corpus Christi has sold over $216 million in bonds to help finance the deepening and widening of the Corpus Christi Ship Channel. Currently at a depth of 45 feet, the Ship Channel will be dredged to 54 feet to accommodate Suezmax and larger vessels, and widened to 530 feet to allow for two-way traffic flows, positioning the Port of Corpus Christi as the deepest … [Read more...]