U.S. refiner Phillips 66 enters offshore oil export race 2:27pm EDT [Reuters]
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Source: Reuters
U.S. refiner Phillips 66 enters offshore oil export race - Reuters 4 Min Read HOUSTON (Reuters) - U.S. oil refiner Phillips 66 is proposing a deepwater crude export terminal off the U.S. Gulf Coast, the company said on Wednesday, challenging at least eight other projects aiming to send U.S. shale oil to world markets. The project, called Bluewater Texas Terminal LLC, signals another major expansion of its logistics operations. The fourth largest U.S. refiner last week formed joint ventures to build pipelines linking shale fields in West Texas and North Dakota to the Cushing, Oklahoma, oil hub and the U.S. Gulf Coast. Phillips 66 has applied for federal and state permits to build an export port about 20 miles (32 km) off Corpus Christi, Texas, and related crude pipelines, according to documents viewed by Reuters and people familiar with the filings. The people did not want to be named because the information is not public. The project, which is being developed with the Port of Corpus C
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