Business
17:52, 09-Dec-2017
US oil exports look set to rise through Houston provider's plan
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Shale oil exports from the United States will grow in the next decade and likely place pressure on international exploration and prices, an analyst has told Xinhua.
Jo Zhao, a senior consultant of the consulting company The Oil World, was responding to the plan announced on Wednesday by Enterprise Products Partners to convert one of its natural gas liquid (NGL) pipelines from western Texas' Permian Basin to the Texas Gulf Coast for crude oil service.
The conversion, to be completed in the first half of 2020, is expected to provide the Enterprise with a total crude oil pipeline capacity of over 650,000 barrels per day from the Permian Basin to Enterprise's crude oil hub in the Houston area.
A.J. "Jim" Teague, chief executive officer of the general partner of Enterprise, said Wednesday in a news release that the repurposing of an NGL pipeline into crude oil service is an example of system flexibility and innovation in response to customers' needs while increasing distributable cash flow and value of partnership.
In early November, two million barrels of crude oil per day were delivered from ports along Texas Gulf Coast, setting a record in US oil exports.
Enterprise Products Partners is one of the largest publicly traded partnerships and a leading North American provider of energy services to producers and consumers of natural gas, NGLs, crude oil, refined products and petrochemicals.
Source(s): Xinhua News Agency