Trafigura Trading LLC, a wholly-owned subsidiary of Trafigura Group Pte Ltd, has signed a long-term commitment with Plains All American Pipeline, L.P. for the receipt of crude oil and condensate from Midland, Texas to Corpus Christi, Texas.
The long-term agreement, which takes effect immediately, will enable Trafigura to receive up to 100,000 barrels of product per day at Corpus Christi. This commitment will also allow the company to purchase from producers in the Permian basin, the fastest growing oil exploration area in the United States, and receive crude and condensate for the company’s condensate splitters and export terminal in Corpus Christi that is co-owned with Buckeye Partners L.P.
“Trafigura already has a leading role in exporting crude oil and refined products from the US,” said Kevin Jebbitt, co-head of crude oil trading at Trafigura. “Today’s agreement will connect producers in the Permian basin to our significant logistics infrastructure, global customer base and marketing power on a long term basis.”