The Port of Corpus Christi in Texas moved 33.5 million tons of petroleum within the third quarter, about three p.c increased than the identical three-month interval final yr and the prior quarter in 2024.
The rise in crude oil drove an total two p.c development to 53 million tons, it mentioned in a press release. The port’s complete quantity broke the document of the third quarter of 2023 as the very best quarter in its historical past, regardless of going by two hurricanes.
The constant improve in oil shipments passing by the port this yr aligns with the growing pattern in crude oil web imports — gross imports minus gross exports — in the US in the identical interval. U.S. web crude imports averaged 2.67 million barrels a day (MMbd) within the July–September interval in accordance with the nation’s Power Data Administration (EIA). The Port of Corpus Christi claims to be the nation’s largest “power export gateway”. By complete waterborne tonnage, it’s the nation’s largest port after the ports of Houston, Texas, and South Louisiana, Louisiana, in accordance with the Bureau of Transportation Statistics.
- Advertisement -
Yr-to-date, the Port of Corpus Christi moved 2.4 MMbd of crude oil, up from 2.3 MMbd within the first 9 months of 2023.
“There have been additionally modest will increase in volumes for refined merchandise, liquefied pure gasoline and dry bulk items”, mentioned the quarterly report on the port’s web site.
The U.S. noticed a year-over-year and quarter-on-quarter improve in LNG exports to 11 billion cubic ft a day, information within the EIA’s newest Quick-Time period Power Outlook confirmed.
“After a barely slower begin to the yr in contrast with the record-breaking means our clients ended 2023, we’re happy to see the large pickup in quantity by the gateway within the third quarter of 2024”, chief govt Kent Britton mentioned. “By means of continued funding in our maritime infrastructure, the Port of Corpus Christi and its robust buyer base stay well-positioned for future development”.
Final yr, for the primary time, the port moved over 200 million tons of products, up 8.1 p.c from 2022. The achievement rode on a 12.5 p.c improve in crude oil shipments to 126.1 million tons.
U.S. crude oil exports in 2023, totaling 4.1 MMbd and rising 13 p.c year-on-year, surpassed the annual document set in 2022. Aside from 2021, annual U.S. crude oil exports have climbed since 2015, when the federal government lifted a restriction on exports that was in impact from 1975, in accordance with the EIA.
In September 2023 the ultimate contract for the Corpus Christi Ship Channel Enchancment Challenge was awarded. The four-phase venture to widen the channel is anticipated to be accomplished subsequent yr. The port says the venture would make it the U.S.’ largest crude oil export gateway with a quantity of practically one billion barrels yearly, in addition to the deepest draft channel within the Gulf of Mexico.
To contact the creator, e-mail jov.onsat@rigzone.com
What do you assume? We’d love to listen to from you, be part of the dialog on the
Rigzone Power Community.
The Rigzone Power Community is a brand new social expertise created for you and all power professionals to Communicate Up about our business, share information, join with friends and business insiders and have interaction in an expert neighborhood that may empower your profession in power.
