Singaporean Trafigura Trading LLC, a wholly-owned subsidiary of Trafigura Group, has announced the signing of a long-term commitment with Plains All American Pipeline, for the transport of 300,000 barrels of crude oil per day from the Permian Basin to the port of Corpus Christi, Texas.
The transportation of the crude oil volumes will be made via the Cactus II Pipeline, which will start service in the third quarter of 2019.
This will enable Trafigura to transport crude oil bought from producers in the Permian basin, and deliver crude for American and international refining customers. The export terminal is co-owned with Buckeye Partners.
“This is one of the largest commitments of its kind to be signed in the US and solidifies Trafigura’s position as a leading US exporter of crude oil and refined products. As demand for American crude continues to grow we’ll be able to bring our significant logistics infrastructure, global customer base and marketing skills to producers in the Permian Basin,” said Corey Prologo, Head of Oil Trading and Director for Trafigura North America.
This announcement is part of an agreement signed with Plains in July 2017 for Trafigura to receive up to 100,000 barrels of crude oil and condensate per day from the Permian Basin to Corpus Christi.
