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U.S. Refiner Phillips 66 Enters Offshore Oil Export Race

By  AOG Staff Wednesday, 19 June 2019 06:22
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U.S. oil refiner Phillips 66 is proposing a deepwater crude export terminal off the U.S. Gulf Coast, challenging at least eight other projects aiming to send U.S. shale oil to world markets, according to a memo and a source who asked not to be named.

 © Lukasz Z/ Adobe Stock
© Lukasz Z/ Adobe Stock

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.

(Reuters, Reporting by Collin Eaton in Houston Editing by Phil Berlowitz)

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