October 29, 2018

Major crude oil export terminal on the way to Harbor Island following recent agreement, USA

Today the Port of Corpus Christi Authority announced it has entered into an agreement  with The Carlyle Group to work exclusively to develop a world-class crude oil export terminal on Harbor Island, connecting growing crude oil production in the United States with global markets.
Image credit: Andrew Thomas on Flickr
(CC BY-SA 2.0)

The Terminal would be the first onshore location in the U.S. capable of providing export service to fully-laden Very Large Crude Carriers (VLCCs) and would further the Port's position as the preeminent global crude oil export hub.

VLCC access at the Port of Corpus Christi will open the global markets for U.S. oil producers, pipelines, their supply chains and customers. The result could produce up to a $50 billion annual reduction to the national trade deficit. Importantly, the City of Corpus Christi would benefit from the thousands of direct and indirect jobs as well as billions in incremental economic activity.

Read the full article on the Milling and Grain website, HERE.

The Global Miller
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which is published by Perendale Publishers Limited.

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