First Export Load From Gulf Coast of U.S. Crude Loaded
A 600,000 barrel cargo of domestic light crude oil was loaded at the Enterprise Hydrocarbon Terminal (EHT) on the Houston Ship Channel this week.
The shipment is likely the first export of U.S. crude oil from the Gulf Coast in 40 years. As part of the comprehensive U.S. spending bill, Congress has allowed the export of crude oil without a special license for the first time since 1975.
Enterprise Products Partners announced in December that it had agreed to provide pipeline and marine terminal services to load its first export of crude oil produced in the United States under the law enacted earlier in December. Enterprise Products Partners is one of the largest publicly traded partnerships and a leading North American provider of midstream energy services to producers and consumers of natural gas, crude oil, refined products, and petrochemicals.
“We are excited to announce our first contract to export U.S. crude oil, which to our knowledge may be the first export cargo of U.S. crude oil from the Gulf Coast in almost 40 years,” said A.J. “Jim” Teague, chief operating officer of Enterprise’s general partner. “Enterprise’s integrated system enabled us to quickly respond to customer demand for U.S. crude oil by international markets.
“We applaud the actions of Congress and President Obama to remove the ban on U.S. crude oil exports,” Teague added. “This law facilitates economic growth and job creation for the United States as well as enhances our national and energy security. This action provides new markets to domestic producers, especially producers of light crude oil, and will provide global markets with supply diversification.”