TEXAS GULF TERMINALS PROJECT
Corpus Christi Caller Times, 6 June 2019 - Study says Trafigura project is safe, Port of Corpus Christi disagrees
A study commissioned by King Ranch Inc. claims that projects like the one proposed by a Switzerland-based international commodities company off the Padre Island National Seashore are "safe and effective."
“As we have evaluated deepening our partnership with Texas Gulf Terminals, preserving the environment in the Coastal Bend region and ensuring the safety of the men and women who will be transporting oil has always been our top priority,” said King Ranch CEO Robert Underbrink. “This independent analysis provides us with sufficient assurance that SPMs are the right technology to deploy along the Texas Gulf Coast to enhance America’s global energy leadership.”
KRISTV.COM, 28 May 2019 - Race on for local VLCC terminal, but does there need to be?
“VLCC terminals are coming to the Coastal Bend, there’s no question about that. We have the capacity, and that is important,” said Dr. Jim Lee, economics professor at Texas A&M-Corpus Christi. “In Houston, it is too congested. The Trafigura project would actually take no more than 10% of the expected growth,” said Lee. That’s good news for Port officials who see the Coastal Bend becoming the nation’s energy export hub.
Midland Reporter-Telegram, 29 March 2019 - Export capacity critical to oil industry's future growth
“The oil export bottleneck is real, and unless we take actions today to avoid it, the economic impact will not be confined to the Permian Basin.”
Midland Reporter-Telegram, 10 March 2019 - Analysis urges planning now for oil export infrastructure: Report says prolonged bottleneck could cost Permian $51 billion in revenue
“Amid the focus on the nation's rising oil output and its leadership role in the global energy marketplace, some fear an important piece of the puzzle is being overlooked.”
Caller Times, 15 Feb 2019 - Selling Texas' oil to the world requires fixing the infrastructure bottleneck
“Texas is leading the charge in America’s rise as a global energy superpower, but the state’s full potential can only be realized through significant investment in our pipelines, roads, and ports.”
Reuters, 10 January 2019 - U.S. oil export boom sparks a battle to build Texas ports
“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.”
"Reports on the support from West Texas for the Texas Gulf Terminals Project, citing the letters from the state delegation and Midland Chamber."
S&P Global Platts, 10 December – Oil, commodities trader Trafigura seeks to grow US crude exports
"Swiss-based commodity trader Trafigura is seeking to grow its position in exporting crude oil in the US after its global traded volumes jumped by 7.5% this year."
Bloomberg, 6th December 2018 - The U.S. Just Became a Net Oil Exporter for the First Time in 75 Years
"America turned into a net oil exporter last week, breaking almost 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."
Houston Chronicle, November 23 2018 - U.S. could become net exporter of petroleum by 2022
"The United States could become a net exporter of petroleum in less than five years, the first time the country would achieve such a feat since at least 1949, according to a new report.The shift from importer to exporter is driven by the surge in U.S. oil production that has followed the unlocking of crude reserves from shale formations, according to the report by the research firm IHS Markit. U.S. oil production grew to 9.4 million barrels a day in 2017, nearly double the 5.1 million barrels a day produced a decade earlier. Since then production has only accelerated: the Energy Department last week estimated that U.S. output has reached 11.7 million barrels a day."
Bloomberg, 21 November 2018 – Texas is about to create OPEC’s worst nightmare
"An infestation of dots, thousands of them, represent oil wells in the Permian basin of West Texas and a slice of New Mexico. In less than a decade, U.S. companies have drilled 114,000. Many of them would turn a profit even with crude prices as low as $30 a barrel. OPEC’s bad dream only deepens next year, when Permian producers expect to iron out distribution snags that will add three pipelines and as much as 2 million barrels of oil a day."
Offshore Technology, 19 November 2018 - The dawn of offshore mega-terminals
"The US is becoming a major exporter of oil, and it needs increasingly bigger and better infrastructure to keep the commodity flowing. As a result, the country is looking to build offshore shipping terminals big enough to handle the size and volume of a new generation of mega-tankers."
The Midland Reporter Telegram, 27 October 2018 - PBPA panelists say pipelines are just part of the takeaway issues
“If U.S. production rises to the levels analysts forecast, it would require more than 600 Very Large Crude Carriers to carry that additional production to overseas markets. But the U.S. does not have enough capacity to handle the VLCCs that can carry up to 2 million barrels of crude”
Wall Street Journal, 21 October 2018 - Oil Exports Test Ports' Capacity
"As pipeline bottlenecks crimp the U.S. shale boom, some companies are racing to address the next potential constraint on American oil output: the terminals to export crude to foreign markets. Oil exports have been a key release valve for U.S. producers in the three years since Congress lifted a longtime ban on overseas crude sales. Exports topped 2.1 million barrels daily in September and are projected to approach four million barrels within two years, according to S&P Global Platts Analytics."
The Midland Reporter Telegram, 19 October 2018 - Trafigura proposes port facility to move Permian crude
Pipeline companies are rushing to expand or build new pipelines to move Permian Basin crude and natural gas to the Gulf Coast so the production can find its way to consumers. When that new takeaway capacity comes online beginning in late 2019 and into 2020, that is expected to eliminate the current bottlenecks. But for a company like Trafigura, a trading and logistics company with an office in downtown Midland, that's only part of the solution.
Houston Business Journal, 8 August 2018 - Global commodities trader plans to build offshore terminal along Texas Gulf Coast
"Trafigura US Inc., the Houston-based arm of international commodity trading and logistics company Trafigura Group, aims to build an offshore export terminal along the Texas Gulf Coast."
Houston Chronicle, 6 August 2018 - Race is on to build Texas’ first offshore oil export terminal
"The global commodities trading firm Trafigura Group will announce Monday that it plans to build the Texas Gulf Terminals Project in the Gulf of Mexico, off the coast from Corpus Christi. An offshore terminal would avoid port traffic and float in waters deep enough to handle the largest ships."
Reuters, 6 August 2018 - Trading firm Trafigura looks to build U.S. deep water oil port
"Global commodities trader Trafigura has applied to build a deep water port in Texas, United States, that would be able to load supertankers, the company said on Monday, supplying badly needed oil export infrastructure to the country."
Financial Times, 6 August 2018 - Trafigura plans US deepwater oil export terminal: Proposal intends to take advantage of shale boom to accommodate supertankers
"Proposal intends to take advantage of shale boom to accommodate supertankers."
RBN Energy, 5 May 2019 - Gulf Coast Highway - Is the Next Crude Oil Bottleneck at the Gulf Coast?
“The article notes that the pace at which export terminal buildouts come to fruition - and how ship traffic congestion gets resolved - will play big roles in determining how quickly export volumes can rise through the 2020’s. With so much financial opportunity involved, we expect to see midstream companies and traders come up with innovative solutions."
S&P Global Platts, 7 September 2018 - Feature: Projects may double Corpus Christi crude oil export capacity by late 2019
"Options for exporting more US crude oil from the burgeoning hub of Corpus Christi, Texas, continue to expand as companies prepare for a flood of crude available to head there within the next year."
CNBC, 13 June 2018 - The Permian Basin in Texas and New Mexico will soon become the third-biggest oil producing region in the world: IHS Markit
"Today, the Permian basin in Texas and New Mexico is the nation’s biggest shale oil producing region. But in just a few years, drillers could be pumping enough Permian crude to outmatch every nation in the world except Russia and Saudi Arabia."
Bloomberg, 29 May 2018 - Shale Surge Crashes Into Bottlenecks From Pipelines to Ports
"The U.S. shale surge is crashing headlong into a barrage of bottlenecks. From West Texas pipelines to Oklahoma storage centers and Gulf Coast export terminals, the delivery system for American crude is straining to keep up with soaring production. That’s limiting the industry’s ability to take full advantage of growing worldwide demand, with U.S. barrels forced to take an a $9-a-barrel price discount to international crude."
Reuters, 24 May 2018 - Chinese, others clamor for crude exports, but U.S. straining capacity
"The U.S. oil export infrastructure is straining to keep up as the country’s crude oil exports hit new highs and China snaps up more of it than ever before."
S&P Global Platts, 16 March 2018 - Analysis: Permian gas production surge faces looming market, infrastructure constraints
"An unrelenting surge in Permian Basin drilling, which is driving record gas production growth there this year, now appears to be facing market and infrastructure constraints that could come as early as the second quarter."
Reuters, 30 October 2017 - U.S. oil exports boom, putting infrastructure to the test
"Tankers carrying record levels of crude are leaving in droves from Texas and Louisiana ports, and more growth in the fledgling U.S. oil export market may before long test the limits of infrastructure like pipelines, dock space and ship traffic."
Trafigura.com, 6 August 2018 - Trafigura statement about Texas Gulf Terminals Project
"The U.S. natural gas and oil industry is a critical part of the economy, contributing more than USD1.3 trillion and supporting 10.3 million jobs in 2015. As U.S. crude oil production surges, oil exports have also grown, with projections reaching 4.8 million barrels per day by 2022. Without new investment, today’s U.S. export infrastructure will be unable accommodate this volume, which will restrict production and slow economic growth."