Enterprise Cleared for Major U.S. Oil Export Terminal

April 12, 2024--Written by Daniel Graeber for Industrial Info Resources (Sugar Land, Texas)--Amid protest from environmental advocates, midstream-focused Enterprise Products Partners LP (NYSE:EPD) (Houston, Texas) said it finally has the greenlight to move forward with plans for what could be the largest oil export terminal along the U.S. Gulf Coast.

Enterprise received a license from the U.S. Maritime Administration for its Sea Port Oil Terminal (SPOT), an offshore facility that would be capable of loading 2 million barrels of oil per day (BBL/d). That would be the largest oil export terminal in the country, potentially boosting deliveries by about 25% from current levels.