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Freely traded U.S. crude loaded down, headed out of Port of Corpus ChristiFreely traded U.S. crude loaded down, headed out of Port of Corpus Christihttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=116352016-01-05T06:00:00Z2016-01-05T18:00:00Z

​​CORPUS CHRISTI - The first oil tanker of freely traded U.S. crude departed from the Port of Corpus Christi.

ConocoPhillips Co. and NuStar Energy LP loaded the tanker with oil pumped from the Eagle Ford Shale of South Texas. 

The companies believe it to be the nation's first export cargo of American-produced light crude oil.

Brad Barron, president and CEO of NuStar Energy said "... we are currently in the process of developing a second private dock in the Port of Corpus Christi."

Barron noted that with the new dock, NuStar would have access to four loading docks in the Port of Corpus Christi, including two private docks, and would be able to load crude oil onto ships simultaneously on all four docks at a maximum rate of 90,000 barrels per hour.

The companies have skipped ahead of Enterprise Products Partners LP, which said that it expected to load the first oil export cargo in Houston during the first week of January.

Vitol Group, a Dutch oil-trading powerhouse, is buying the oil cargo, according to NuStar. The company has a subsidiary that owns a refinery in Switzerland.
Wall Street Journal
Corpus Christi
Infrastructure & Transportation
http://www.wsj.com/articles/first-tanker-of-u-s-crude-oil-for-export-launches-from-texas-1451601536

​Also, ​see the San Antonio Business Journal​ for more about this story.

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