NuStar Energy L.P. Receives First Shipment of Long-Haul Permian Crude Oil
NuStar Energy L.P. (NYSE: NS) announced today that it has received its first shipment of Permian crude at its Corpus Christi North Beach Terminal, and that the terminal will load the first cargo of the long-haul Permian crude onto a ship for export this weekend.
The shipment comes on the heels of NuStar’s recent completion of a project connecting the partnership’s existing 16” pipeline in South Texas to the Plains Cactus II pipeline that transports WTI volumes from the Permian Basin to South Texas.
NuStar is also currently nearing completion of connections of its South Texas Pipeline System to two other long-haul pipelines that will also move WTI volumes from the Permian to South Texas.
“We are excited to have these connections completed and we are even more excited that we will soon be the first in the Port of Corpus Christi to export these barrels transported to South Texas via one of three large Permian long-haul pipeline projects,” said Brad Barron, president and chief executive officer of NuStar Energy L.P. “The second stage of our export project, a new 8-mile 30” pipeline to transport WTI volumes from a connection to Cactus II in Taft, Texas to our Corpus Christi terminal is also on-schedule to be in service this quarter.
“We continue to believe that the biggest impact from the growth in the Permian Basin on the horizon is the growth in Gulf Coast crude exports, particularly from the Port of Corpus Christi, and with our existing pipeline and terminal operations in South Texas and Corpus Christi we are uniquely positioned to play a major role in getting more crude to export markets,” Barron added.
Source / More : NuStar Energy L.P.
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