First US Crude Oil Export in 40 Years Sails from Corpus Christi
CORPUS CHRISTI, TX Following the United States government's repeal of a 40 year ban on the export of U.S. crude oil, NuStar Energy and ConocoPhillips have loaded the nation's first export cargo at Port Corpus Christi. The light crude oil sold to the international trading company Vitol, has set sail from Port Corpus Christi.
Major investments in terminal operations at Port Corpus Christi in recent years have primed the South Texas port for a position as a leading exporter of U.S. crude oil. Deep water, dock space, and abundant storage along with plans for further channel deepening will accommodate some of the world's largest tankers for efficient movement of crude and condensate from Port Corpus Christi. Port Corpus Christi is connected via intricate pipeline systems to the South Texas Eagle Ford Shale and to the Permian Basin.
"Infrastructure improvements at Port Corpus Christi have placed our port in a unique position as a critical component in the export of U.S. crude and condensate," said John LaRue, Port Corpus Christi Executive Director. "Port Corpus Christi's deep draft ship channel and strategic location to some of the largest production areas in the U.S. provides a secure and competitive supply chain to markets worldwide. Future capital improvements including deepening the ship channel will accommodate larger vessels that are required to cost effectively supply U.S. crude oil to global markets."
NuStar has invested heavily in recent years to expand its South Texas Crude Oil Pipeline System and in Corpus Christi Terminal operations.
"Based on our investments in Corpus Christi and our South Texas pipeline system, NuStar was well-positioned, equipped and staffed to immediately begin loading cargoes for export," said NuStar President and CEO Brad Barron. "And we plan on further expanding our Corpus Christi operations to provide more options to our customers to move Eagle Ford Shale crude oil, whether it is being moved domestically or internationally. In fact, we are currently in the process of developing a second private dock in the Port of Corpus Christi."
"Today is a great day for our nation, as the first shipment of oil leaves Texas soil through the Port of Corpus Christi. We have made great strides in protecting our national security, economy, and the future of the Eagle Ford Shale region by lifting the ban on oil exports. Exporting crude oil ensures long-term and sustainable growth throughout South Texas," said Omar Garcia, President and CEO, STEER.