Swiss Company's Oil Export Plans Could Threaten Corpus Christi's Port Expansion
A Swiss company’s plans to export American oil could mean millions in lost revenue for the Port of Corpus Christi, and port officials are now challenging their new rival.
The port is the nation’s largest oil exporter, and it wants to further dominate the market with a ship channel expansion to make room for huge tanker ships.
Enter Switzerland competitor Trafigura.
A subsidiary of the company called Texas Gulf Terminals is planning a nearby facility that could be built before the port expansion is finished.
Analyst Sandy Fielden with the research firm Morningstar says the rival project could provide oil companies a cheaper, quicker alternative to send their product abroad.
Read more: https://www.houstonpublicmedia.org/articles/news/energy-environment/2018/09/28/305805/swiss-companys-oil-export-plans-could-threaten-corpus-christis-port-expansion/
