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Researched by Industrial Info Resources (Sugar Land, Texas)--The Houston-Galveston port district in Texas recently began exporting more crude oil than it imported for the first time, according to the U.S. Energy Information Administration (EIA).
Crude oil exports from the district, which stretches from Corpus Christi to Galveston, have increased since the restrictions on U.S. crude oil exports were lifted at the end of 2015, according to the EIA. In April, crude oil exports from Houston-Galveston surpassed crude oil imports by 15,000 barrels per day (BBL/d). In May, that number jumped to 470,000 BBL/d. Total U.S. crude exports rose to a record high of 2 million BBL/d in May.
Industrial Info is tracking more than $1 billion in capital and maintenance petroleum bulk station and terminal projects in the counties located in the port district.
The Houston-Galveston district has accounted for slightly more than half of the crude oil exported from the U.S. on average since mid-2017, according to the EIA, and the share increased to a record 70% in May. A port district is defined by U.S. Customs and encompasses several ports of entry. The Houston-Galveston port district includes the port of Houston as well as several other ports.
The EIA's Today In Energy report on Monday noted ongoing efforts to expand crude oil export infrastructure in the region. In June, the Port of Corpus Christi in Texas approved the issuance of up to $217 million in revenue bonds on June 19 to help finance major capital improvements, including an expansion of the Corpus Christi Ship Channel to allow it to handle growing exports of oil and natural gas. Part of the port's 10-year capital investment program, the channel will be dredged from its current depth of 45-47 feet to 54 feet to accommodate Suezmax (those ships that can fit through the Suez Canal and carry up to 1 million barrels of oil) and larger vessels, and widened to 530 feet to allow for two-way traffic flows, positioning the port as the deepest draft navigation port in the U.S Gulf, according to the port authority. The expansion is estimated to increase exports of U.S. oil and gas by nearly $40 billion. The port now handles more than 60% of the U.S.' domestic crude oil exports.
For more information, see Industrial Info's project report and June 27, 2018, article - Corpus Christi Ship Channel Expansion Set to Start this Year.
One large project that is expected to kick off construction this year in the region is a $400 million crude oil loading and unloading terminal in Ingleside, Texas. Buckeye Partners LP (NYSE:BPL) (Houston, Texas), with joint-venture partners Phillips 66 (NYSE:PSX) (Houston, Texas) and Andeavor Corporation (NYSE:ANDV) (San Antonio, Texas), is developing the project on a 212-acre waterfront parcel at the mouth of Corpus Christi Bay. Now in the permitting phase, the project includes two deepwater vessel docks capable of berthing VLCCs. For more information, see Industrial Info's project report.
The only other port district that has seen significant crude oil export volumes recently is the U.S. port district of Port Arthur, which includes the ports of Port Arthur, Sabine, Beaumont and Orange in Texas, according to the EIA. This district has on average accounted for close to a quarter of all U.S. crude oil exports since mid-2017.
Industrial Info is tracking nearly $1.7 billion in capital and maintenance petroleum bulk station and terminal project activity in the Port Arthur region. The largest of these in total investment value (TIV) is Enterprise Products Partners LP's (NYSE:EPD) (Houston, Texas) $1.5 billion Gulf Coast offshore crude oil export terminal. To be located 80 miles offshore from the Houston Ship Channel entry way, the terminal would be capable offloading 80,000 barrels per hour into very large crude carriers (VLCCs) which have a holding capacity of 2 million barrels. Construction is expected to commence by the end of this year, with completion in the first quarter of 2020. For more information, see Industrial Info's project report.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn. For more information on our coverage, send inquiries to info@industrialinfo.com or visit us online at http://www.industrialinfo.com.
Crude oil exports from the district, which stretches from Corpus Christi to Galveston, have increased since the restrictions on U.S. crude oil exports were lifted at the end of 2015, according to the EIA. In April, crude oil exports from Houston-Galveston surpassed crude oil imports by 15,000 barrels per day (BBL/d). In May, that number jumped to 470,000 BBL/d. Total U.S. crude exports rose to a record high of 2 million BBL/d in May.
Industrial Info is tracking more than $1 billion in capital and maintenance petroleum bulk station and terminal projects in the counties located in the port district.
The Houston-Galveston district has accounted for slightly more than half of the crude oil exported from the U.S. on average since mid-2017, according to the EIA, and the share increased to a record 70% in May. A port district is defined by U.S. Customs and encompasses several ports of entry. The Houston-Galveston port district includes the port of Houston as well as several other ports.
The EIA's Today In Energy report on Monday noted ongoing efforts to expand crude oil export infrastructure in the region. In June, the Port of Corpus Christi in Texas approved the issuance of up to $217 million in revenue bonds on June 19 to help finance major capital improvements, including an expansion of the Corpus Christi Ship Channel to allow it to handle growing exports of oil and natural gas. Part of the port's 10-year capital investment program, the channel will be dredged from its current depth of 45-47 feet to 54 feet to accommodate Suezmax (those ships that can fit through the Suez Canal and carry up to 1 million barrels of oil) and larger vessels, and widened to 530 feet to allow for two-way traffic flows, positioning the port as the deepest draft navigation port in the U.S Gulf, according to the port authority. The expansion is estimated to increase exports of U.S. oil and gas by nearly $40 billion. The port now handles more than 60% of the U.S.' domestic crude oil exports.
For more information, see Industrial Info's project report and June 27, 2018, article - Corpus Christi Ship Channel Expansion Set to Start this Year.
One large project that is expected to kick off construction this year in the region is a $400 million crude oil loading and unloading terminal in Ingleside, Texas. Buckeye Partners LP (NYSE:BPL) (Houston, Texas), with joint-venture partners Phillips 66 (NYSE:PSX) (Houston, Texas) and Andeavor Corporation (NYSE:ANDV) (San Antonio, Texas), is developing the project on a 212-acre waterfront parcel at the mouth of Corpus Christi Bay. Now in the permitting phase, the project includes two deepwater vessel docks capable of berthing VLCCs. For more information, see Industrial Info's project report.
The only other port district that has seen significant crude oil export volumes recently is the U.S. port district of Port Arthur, which includes the ports of Port Arthur, Sabine, Beaumont and Orange in Texas, according to the EIA. This district has on average accounted for close to a quarter of all U.S. crude oil exports since mid-2017.
Industrial Info is tracking nearly $1.7 billion in capital and maintenance petroleum bulk station and terminal project activity in the Port Arthur region. The largest of these in total investment value (TIV) is Enterprise Products Partners LP's (NYSE:EPD) (Houston, Texas) $1.5 billion Gulf Coast offshore crude oil export terminal. To be located 80 miles offshore from the Houston Ship Channel entry way, the terminal would be capable offloading 80,000 barrels per hour into very large crude carriers (VLCCs) which have a holding capacity of 2 million barrels. Construction is expected to commence by the end of this year, with completion in the first quarter of 2020. For more information, see Industrial Info's project report.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn. For more information on our coverage, send inquiries to info@industrialinfo.com or visit us online at http://www.industrialinfo.com.
