Trafigura have signed agreement with Plains to boost US crude oil exports

Trafigura has signed a long-term agreement with Plains All American pipeline operator. The agreement is to ship 300,000 barrels per day of crude from the Permian Basin to the port of Corpus Christi, as the global commodity trader make their move on the growing share of US crude oil exports.

The commitment follows an earlier deal signed in July to move 100,000 barrels per day of crude and condensate from the Permian shale play.

Trafigura along with Buckeye Partners LP own an export terminal at Corpus Christi, and has exclusive shipping rights.

Corey Prologo, Head of Oil Trading and Director for Trafigura North America sates “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.”