WASHINGTON: Two crude oil export shipments from the Lone Star State have reached their European destinations, while a third is expected to arrive soon.
A tanker carrying crude oil from the Port of Corpus Christi arrived at Marseilles, France, on Jan. 20, and one that left the Port of Houston made it to Rotterdam in the Netherlands on Jan. 21. Meanwhile, a third oil tanker that left Houston is near the Canary Islands, where it is also bound for Marseilles.
The shipments were all made possible after federal officials lifted the 1970s ban on exporting crude oil in December. Switzerland-based trading company Vitol emerged as an early buyer of light sweet crude from Texas — buying oil from Houston-based ConocoPhillips (NYSE: COP) and Enterprise Products Partners LP (NYSE: EPD).
ConocoPhillips used a NuStar Energy LP (NYSE: NS) terminal at the Port of Corpus Christi, where an oil tanker named the Theo T made oil industry history after setting sail with the first unlicensed crude oil export shipment in more than 40 years.
The Theo T was originally supposed to go to Trieste, Italy, but arrived in Marseilles at 7:58 a.m. CST on Jan. 20. The Theo T unloaded its cargo and left for Algeria. While the crude oil’s final destination has not been disclosed, the South European Pipeline in Marseilles connects to Vitol’s Cressier Refinery in Switzerland.
Dutch media outlets reported that a tanker named the Seaqueen left the Enterprise Product Partners terminal at the Port of Houston with a shipment of crude oil on New Year’s Day. Maritime records show that the Seaqueen made it to Rotterdam at 4:32 a.m. CST on Jan. 21.
Enterprise Products Partners is not confirming those media reports but did confirm that a Liberian tanker named the Angelica Schulte left their Houston terminal with a crude oil export shipment on Jan. 9.
Maritime records show that the Angelica Schulte was near the Canary Islands the afternoon of Jan. 22 was being posted and is expected to arrive in Marseilles on Jan. 26.
