Texas Port Expands For Bakken Crude Oil Shipments
Increased pipeline crude oil shipments from the North Dakota Bakken are one of the contributing factors for the $360 million expansion of the port and channel at Corpus Christi, TX for larger tanker ships exporting overseas.
When completed in 2021, the port will be able to load more than 2 million barrels at a time.
“Having this Very Large Crude Cruiser access will allow more Texas oil to flow into global markets,” said Bud Weinstein with the Maguire Energy Institute. “While this expansion has gone on, we’re also seeing a lot of new pipelines under construction.”
The crude oil coming from North Dakota, Wyoming, and Colorado will also feed into this market, while the Dakota Access Pipeline, now carrying 505,000 BOPD, will feed into storage terminals feeding other Texas ports.
The US Army Corps of Engineers is also funding $59 million for increasing the depth of the channel from 47 to 54 feet.