Monday, May 29, 2017

VLCC At Corpus Christi -- Successfully Tested -- OXY -- May 29, 2017

Updates

September 25, 2017: update on the OXY Corpus Christi terminal. To be complete by end of 2018.

Later, 11:35 p.m. Central Time: see comments from a reader.
Propane - propylene here: https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=W_EPLLPZ_EEX_NUS-Z00_MBBLD&f=W.

Ethane - ethylene here: https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=METEXUS2&f=A.
Original Post

This is pretty incredible. Earlier a reader sent me a link to a story reporting that this historic event had been delayed 24 hours due to a local thunderstorm.

Apparently, things are back on schedule. New link to a new story. Data points:
  • supertankers tested at Port Corpus Christi, TX
  • mammoth tanker docking Friday at Port Corpus Christi, historic and successful
  • 1,093-foot-long EuroNav tanker: Anne
  • docked at Oxy's crude oil export facility
  • classified as a Very Large Crude Carrier (VLCC) 
  • Belgian-owned ship: largest crude oil tanker to call on a Gulf of Mexico port
  • will boost crude oil exports from Texas
  • when fully loaded: the bottom of the hull -- 66 feet down
  • unfortunately, Corpus Christi Ship Channel is only 45 feet deep
  • so, they partially load the tanker dockside and then finish the loading in deeper waters using using a smaller ship and ship-to-ship transfer
  • will fill up to 60% capacity dockside
  • tanker at 100% capacity will hold 2.2 million bbls of crude oil for European and Asian markets
  • Port of Corpus Christi plans to deepen its channel; build a higher harbor bridge to accommodate larger vessels
Think about that:
  • ten years ago we were talking about Peak Oil
  • President Carter: "start wearing cardigan sweaters"
  • President Obama: "we can't drill out way to cheaper oil"
  • now, VLCCs are docking off Texas
  • Texas will dredge a channel to make it twenty feet deeper (20/45 = 44%)
  • will build a new bridge over the channel
  • all to export oil from the Permian -- an old basin thought to be dead ... until the Bakken revolution
  • not in a generation; not in a lifetime; in less than ten years

5 comments:

  1. Replies
    1. I certainly thought it was .... it might not be the Manhattan Project or the moon landing but considering how fast things changed in less than ten years -- from Peak Oil to US exporting oil on VLCCs -- it is quite incredible.

      Delete
    2. USA is biggest exporter of propane and propylene.
      You should check out the charts at EIA.
      Ethane export also taking off.
      Should be huge financial boost for operators.

      Delete
    3. Thank you. It's truly impossible to keep up with everything that's going on in the oil and gas sector.

      Delete
    4. Propane - propylene here: https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=W_EPLLPZ_EEX_NUS-Z00_MBBLD&f=W

      Ethane - ethylene here: https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=METEXUS2&f=A

      Delete