HomeMagazine2020February 2020, Vol. 247, No. 2Mercuria Plans to Compete for South Texas Oil-Trading Hub

February 2020, Vol. 247, No. 2

Global News

Mercuria Plans to Compete for South Texas Oil-Trading Hub

Commodities trader Mercuria Energy Group expects to open a new U.S. Gulf Coast crude oil storage facility next year that could compete to become a trading hub for shale oil, the Swiss company’s investment chief said. Pin Oak Terminals LLC, a joint venture owned by Mercuria and Dauphine Midstream LLC, is building 2 million barrels of crude storage outside of Corpus Christi, Texas, near where several pipelines connect and other firms have oil storage, said Brian Falik, Mercuria’s chief investment officer for the Americas. The new Pin Oak hub, which is expected to open mid-2020, could potentially become the main location for crude price assessments for oil shipments through Corpus Christi, Fa

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