June 26, 2017: in the original post, note the RBN Energy post, updating Corpus Christi. Now, today, in Bloomberg, Welcome to the Booming Texas Port at Center of U.S. Oil Exports --
Late last month, an oil tanker that measures three football fields long and six stories high moved slowly through the port of Corpus Christi, Texas, to test the waters of America’s booming crude-export industry.
After navigating the Aranasas pass around 7 a.m. on May 26, the vessel, Euronav NV’s Anne, didn’t pick up any oil. But its arrival in the humid air of south Texas marked the first time ever a tanker of that size had called on a U.S. terminal in the Gulf of Mexico.
The Anne docked at Occidental Petroleum Corp.’s terminal to determine if some of the world’s biggest carriers could start ferrying oil from Texas to foreign buyers. The shipping upgrade is necessary after a surge in production from U.S. shale fields like the Permian Basin led to more oil than Gulf Coast refiners could handle. And Corpus Christi is vying to become America’s main export hub.
Job watch: source -- econoday. Down 10,000 from previous report
- actual: 245,000
- prior: 248K (surprise on the up side, up 13K) revised to 255K (wow, that was a bad week)
- forecast today: 241K (range: 235K to 245K)
- 4-week moving average: 238K
RBN Energy: More crude projects in Corpus Christi, and a look at big ship access to the port.
By the early 2020s, crude oil flows from the Permian to Corpus Christi are likely to increase by at least several hundred thousand barrels a day and may well rise by more than one million barrels a day.
That can only happen, though, if new pipeline capacity is in place to move crude from West Texas to the coast and if enough crude-related infrastructure — storage, distribution pipelines, marine docks, etc. — is developed in Corpus to receive, move and load all that oil. Docks and ship-channel depth are particularly important; the bigger the vessels that Corpus marine terminals can handle, the more competitive Permian crude will be in far-away markets like Asia. Today we continue our series on the build-out of crude infrastructure in South Texas’s largest port and consider Corpus’s ability to load Suezmax-class vessels and maybe even Very Large Crude Carriers (VLCCs).