Trafigura, Phillips 66 Form JV for Deepwater Texas Oil Port
Global commodities trader Trafigura said it formed a joint venture with U.S. refiner Phillips 66 to build a major deepwater port in Texas capable of handling supertankers, ditching its own competing project.
The Bluewater Texas Terminal, to be located 21 nautical miles east of the entrance to Corpus Christi port, will have two single-point mooring buoys that can load very large crude carriers (VLCCs), each capable of carrying about 2 million barrels of oil.
Geneva-based Trafigura, the biggest U.S. crude exporter handling about 600,000 bpd, said it had withdrawn its Texas Gulf Terminals p
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