28-02-2020
Phillips 66 and Trafigura form JV to develop deepwater port
Phillips 66 and Trafigura Group Pte. Ltd announce they have formed a 50/50 joint venture, Bluewater Texas Terminal LLC, to develop an offshore deepwater port project located approximately 21 nautical miles east of the entrance to the Port of Corpus Christi.
The proposed project, to be constructed by Phillips 66, will consist of up to two single point mooring buoys capable of fully loading Very Large Crude Carriers (VLCCs) to export crude oil. The project is currently in the permitting stage. The joint venture owners expect to make a final investment decision later this year, pending permit approval and customer volume commitments that support the project meeting the owners’ economic return thresholds.
Trafigura has withdrawn its application to develop the Texas Gulf Terminals deepwater port facility that was submitted to the United States Maritime Administration (MARAD) in July 2018.
The Bluewater Texas joint venture combines the unique market position that Trafigura has built in the United States as a leading exporter and marketer of crude oil with Phillips 66’s commercial expertise, existing infrastructure network on the U.S. Gulf Coast, and proven operating experience, including the safe operation of a single point mooring buoy in the United Kingdom since 1971.
The Bluewater Texas joint venture is working with the Port of Corpus Christi Authority to provide a safe and environmentally sustainable infrastructure for the export of crude oil to global markets while benefitting the regional economy.
News Category:
-
Beyond processbook & PI vision: Exploring today’s industrial analytics tools
(Webinar) - In the Manufacturing 4.0 era, industrial organizations have more data at their fingertips than ever, offering the promise of higher production rates, more ...
04-06-2024
-
Clariant launches new CATOFIN® 312 propane dehydrogenation catalyst
Clariant, a sustainability-focused specialty chemical company, today announced the launch of CATOFIN 312, its latest propane dehydrogenation catalyst. The new catalyst ...
16-04-2024
-
Yokogawa and GridBeyond conclude investment and strategic partnership agreements
Yokogawa Electric Corporation and energy IT solutions provider GridBeyond of Ireland announce that they have concluded a strategic partnership agreement. Furthermore, ...
16-04-2024
-
Heraeus Precious Metals launches Circlear
Heraeus Precious Metals, a globally leading company in the precious metals industry and one of the largest recyclers of precious metals, has introduced its new offering ...
16-04-2024
-
EMA and JERA to cooperate on LNG procurement and supply chains
The Energy Market Authority and JERA Co Inc, have signed a Memorandum of Understanding to cooperate on mutually beneficial areas in liquefied natural gas procurement ...
16-04-2024
-
Hexagon and Dragos unveil technical partnership to strengthen industrial cybersecurity
Hexagon’s Asset Lifecycle Intelligence division today announced a strategic partnership with Dragos, a global leader in cybersecurity for operational technology (OT). ...
16-04-2024
-
Radix partners with Cleopatra Enterprise to enhance project controls and turnaround management
Radix, a global technology solutions company, announced the signing of a partnership agreement with Cleopatra Enterprise, a leading project cost management software company. ...
16-04-2024
-
Rhône Energies in talks to buy Fos-sur-Mer refinery
Rhône Energies, a consortium of Entara LLC and Trafigura Pte Ltd, has entered into exclusive negotiations to acquire the Fos-sur-Mer refinery and the Toulouse and Villette ...
14-04-2024
-
Cenovus Energy to invest in Toledo and Lima refineries
Canada's Cenovus Energy said it will spend more than $1.5 billion on its 160,000 b/d Toledo and 185,000 b/d Lima refineries in Ohio over the next five years and expand ...
11-04-2024
-
Kent plays integral role in Fawley petrochemical complex
Kent, a leading global engineering and project management company, is proud to announce its significant involvement in ExxonMobil's £800m investment in its Fawley Petrochemical ...
11-04-2024