Enterprise’s crude oil contract

Enterprise Products Partners L.P., one of the largest North American providers of midstream energy services to producers and consumers of natural gas, NGLs, crude oil, refined products and petrochemicals, has announced that it has agreed to provide pipeline and marine terminal services to load its first export of crude oil produced in the US under the law enacted earlier this month. The 600 000 bbl cargo of domestic light crude oil is scheduled to load at the Enterprise Hydrocarbon Terminal (EHT) on the Houston ship channel during the first week of January 2016.

“We are excited to announce our first contract to export US crude oil, which to our knowledge may be the first export cargo of US 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 US crude oil by international markets.”

“We applaud the actions of Congress and President Obama to remove the ban on US crude oil exports,” stated Teague. “This law facilitates economic growth and job creation for the US 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.”

Adapted from press release by Francesca Brindle

Read the article online at: https://www.hydrocarbonengineering.com/petrochemicals/05012016/enterprise-to-export-its-first-light-crude-oil-2058/