NYT - Oil exports, illegal for decades, now fuel a Texas port boom

July 5, 2017 – The New York Times

Oil exports, illegal for decades, now fuel a Texas port boom

Crude from West Texas shale fields is increasingly making its way abroad as a pipeline system is expanded to take it to market through Corpus Christi.

By: Clifford Krauss

CORPUS CHRISTI, Tex. — In a twist that would have been unthinkable only two years ago, the oil tanker that arrives in China today may be carrying crude that left the South Texas port of Corpus Christi instead of Saudi Arabia.

Chinese drivers most certainly don’t care where their fuel comes from, but the export of American crude oil to dozens of countries over the last year is the latest chapter in a remarkable turnaround for the American oil and gas industry, about the only good news in three years of plummeting commodity prices, bankruptcies and layoffs.

For 40 years it was virtually impossible to sell American oil to any country except Canada because of an export ban that was a bedrock of United States energy policy. The Obama administration slowly loosened the ban and Congress finally ended it in late 2015 in a compromise that also extended tax credits for renewable energy…

Read the full article here: https://www.nytimes.com/2017/07/05/business/energy-environment/oil-exports-corpus-christi-texas.html

… Crude exports from Corpus Christi have already increased from an average of 68,000 barrels a day during the first half of 2016 to 384,000 barrels a day this April, according to a recent report by RBN Energy, an analysis firm.

Buckeye Partners alone has invested $1.2 billion since 2015 in docks and other export facilities here, putting to work 1,500 construction workers and 130 full-time employees. It has plans to put more than $1 billion into additional investments, including a pipeline system called South Texas Gateway that would connect West Texas with Corpus Christi and global markets. The system is expected to be finished in 2019, with the potential to move 400,000 barrels a day. In the meantime, it plans to add a sixth and seventh deepwater dock in the port capable of loading big tankers for export.