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* (imgCount - 1)) + 1; var images = new Array images[1] = "01.jpg", images[2] = "02.jpg", images[3] = "03.jpg", images[4] = "04.jpg", images[5] = "05.jpg", images[6] = "06.jpg", images[7] = "07.jpg", images[8] = "08.jpg", document.getElementById("rotator").style.backgroundImage = "url(" + dir + images[randomCount] + ")"; </script> <div class="container content"> <div class="row"> <div class="col-lg-9 col-md-9 padright"> <h1 class="blogtitle">Permian Crude Fuels Oil Exports from Corpus Christi & Houston</h1> <p style="font-size:11px;">Tuesday, September 5th, 2017 and is filed under <a href="https://web.archive.org/web/20170916005303/http://www.arescotx.com/category/oil-and-gas-current-events/" rel="category tag">Oil and Gas Current Events</a>, <a href="https://web.archive.org/web/20170916005303/http://www.arescotx.com/category/oil-and-gas-interesting-facts/" rel="category tag">Oil and Gas Interesting Facts</a>, <a 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300w, https://web.archive.org/web/20170916005303im_/http://www.arescotx.com/wp-content/uploads/corpus-christi-port-3807734_s.jpg 450w" sizes="(max-width: 300px) 100vw, 300px"/></a>Global crude markets are hungry for West Texas Intermediate crude oil coming out of the Permian Basin, and this is good news for the economies of Houston and Corpus Christi.<span id="more-16071"></span></p> <p>The Corpus Christi ship channel is undergoing some major improvements in preparation of expected increases in oil exports from the Port of Corpus Christi and also to accommodate the larger super-tankers in use today. Texas Railroad Commissioner, <a href="https://web.archive.org/web/20170916005303/http://www.arescotx.com/tag/ryan-sitton/">Ryan Sitton</a>, expects oil exports from the Port of Corpus Christi alone to rise from one million barrels per day to <a href="https://web.archive.org/web/20170916005303/http://www.kiiitv.com/news/local/texas-railroad-commissioner-predicts-rise-in-price-of-oil/464955650" target="_blank">three million barrels per day</a>.</p> <p><iframe style="border-width: 0;" src="https://web.archive.org/web/20170916005303if_/http://interactive.tegna-media.com/video/embed/embed.html?id=2692245&type=video&title=Texas Railroad Commissioner talks Port business &site=503&playerid=6918249996581&dfpid=32805352&dfpposition=Video_prestream_external§ion=home" width="640" height="360"></iframe></p> <p>Speaking during a tour of the Corpus Christi port and channel Sitton said, “Fifty-percent of the growth is going to come from Asia, so we’ve got to get our products to Asia.” Sitton went on to add, ” The Port of Corpus Christi is going to play a vital role in that. Not only because it’s already a big liquid export facility, but because the geography where we are enables ease of construction of pipelines to bring products into this port.”</p> <p>“We’re talking about going from a million barrels of crude oil a day to three million barrels of crude oil a day, which would be three-percent of the world’s oil consumption,” Sitton said. “That will be tens of thousands of jobs all up and down the entire ship channel, and particularly right here in Corpus Christi.”</p> <p><a href="https://web.archive.org/web/20170916005303/http://www.txoilinvestments.com/"><img class="aligncenter size-full wp-image-4720" src="https://web.archive.org/web/20170916005303im_/http://www.arescotx.com/wp-content/uploads/investing-in-permian-basin-oil.jpg" alt="Investing in Texas Permian Basin Oil" width="600" height="200" srcset="https://web.archive.org/web/20170916005303im_/http://www.arescotx.com/wp-content/uploads/investing-in-permian-basin-oil.jpg 600w, https://web.archive.org/web/20170916005303im_/http://www.arescotx.com/wp-content/uploads/investing-in-permian-basin-oil-300x100.jpg 300w" sizes="(max-width: 600px) 100vw, 600px"/></a></p> <p>The Houston and Baytown areas in Texas also look to cash in on oil flowing out of the Permian Basin to crude markets across the globe. Houston is number two in U.S. oil exports falling right behind the Port of Corpus Christi. Houston has the capacity to ship around 1.7 million barrels per day according to Timm Schneider, senior managing director for Evercore ISI.</p> <p>The problem with the Houston ship channel is congestion. In 2015, fog shut down the channel for approximately <a href="https://web.archive.org/web/20170916005303/http://blogs.platts.com/2017/03/29/us-petrochemical-port-congestion/" target="_blank">680 hours</a> which led to long lines of ships waiting for a berth. However, because of the facilities along the 52-mile Houston Ship Channel, Houston should remain one of the largest petrochemical ports in the world for a very long time.</p> <p><a href="https://web.archive.org/web/20170916005303/http://www.txoilinvestments.com/"><img class="aligncenter size-full wp-image-5412" src="https://web.archive.org/web/20170916005303im_/http://www.arescotx.com/wp-content/uploads/why-now-is-the-time-to-invest-in-oil.png" alt="Why now is the time to invest in oil..." width="600" height="40" srcset="https://web.archive.org/web/20170916005303im_/http://www.arescotx.com/wp-content/uploads/why-now-is-the-time-to-invest-in-oil.png 600w, https://web.archive.org/web/20170916005303im_/http://www.arescotx.com/wp-content/uploads/why-now-is-the-time-to-invest-in-oil-300x20.png 300w" sizes="(max-width: 600px) 100vw, 600px"/></a></p> <p>Oil production in the Permian Basin is nearing 2.5 million barrels per day and experts are suggesting that production could exceed 4 million barrels per day if global demand, and price, require it.</p> <div class="nextpages"></div> <div style="padding-top:30px;"> <ul class="pager">   <li class="nav-bloghome"><a href="https://web.archive.org/web/20170916005303/http://www.arescotx.com/latest-news/"><span class="icon"></span>All Posts</a></li>  <li class="nav-next"><a href="https://web.archive.org/web/20170916005303/http://www.arescotx.com/us-shale-production-on-record-setting-pace/" rel="prev">Next</a></li> </ul> </div> <ul class="pager"> <li></li> <li></li> </ul> </div> <div class="col-lg-3 col-md-3 sidebar"> <p class="titles">Recent Posts</p> <ul> <li> <a href="https://web.archive.org/web/20170916005303/http://www.arescotx.com/permian-crude-fuels-oil-exports-from-corpus-christi-houston/">Permian Crude Fuels Oil Exports from Corpus Christi & Houston</a> </li> <li> <a href="https://web.archive.org/web/20170916005303/http://www.arescotx.com/us-shale-production-on-record-setting-pace/">US Shale Production on Record-Setting 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