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
Log in to view this article.
Not Yet A Subscriber? Here are Your Options.
1) Start a FREE TRIAL SUBSCRIPTION and gain access to all articles in the current issue of Pipeline & Gas Journal magazine.
2) SUBSCRIBE to Pipeline & Gas Journal magazine in print or digital format and gain ACCESS to the current issue as well as to 3 articles from the PGJ archives per month. $199 for an annual subscription*.
3) Start a FULL ACCESS PLAN SUBSCRIPTION and regain ACCESS to this article, the current issue, all past issues in the PGJ Archive, access to all special reports, special focus supplements and more. $1,395 for an annual subscription. For information about group rates or multi-year terms, contact J'Nette Davis-Nichols at Jnette.Davis-Nichols@GulfEnergyInfo.com or +1 713.520.4426*.
*Access will be granted the next business day.
Related Articles
Comments