Crude oil exports from the U.S. Gulf Coast terminals are estimated at 3.8 MMb/d for the year so far, up 600 Mb/d from the same time last year, as per the data from RBN’s Crude Voyager report. All major loading regions have experienced a surge in crude oil exports, driven by both geopolitical tensions and the incorporation of West Texas Intermediate (WTI) Midland barrels into the Brent assessment, which has added more traction to trans-Atlantic voyages.
As noted in the graph below, the Enbridge Ingleside Energy Center (EIEC) continued to load the highest volume of crude oil among Gulf Coast terminals. The terminal accounted for an average loading rate of 904 Mb/d so far this year, up significantly from 746 Mb/d noted in 2022. At the time of writing, EIEC loaded 24% of the overall cargoes, nearly double the volumes noted from South Texas Gateway (STG), which loaded the second-highest share of exports at 538 Mb/d. It is worth noting that both Ingleside terminals, EIEC and STG, are now able to load more crude oil onto Very Large Crude Carriers (VLCCs) as Phase 2 of the Corpus Christi Channel Improvement project has been completed.
Enterprise’s Houston terminal (EHT) stayed at the third spot, with year-to-date shipments at 464 Mb/d. The Louisiana Offshore Oil Port (LOOP), the only Gulf Coast terminal that can fully load a VLCC-class tanker, continued to be in the fourth place with 308 Mb/d, up 81 Mb/d from the previous year. A sharp increase in loadings was noted from Energy Transfer’s Houston Terminal, where cargoes rose from 62 Mb/d to 236 Mb/d year-on-year.
