Port of Corpus Christi reports the addition of 17m extra barrels of storage by August

Port of Corpus Christi CEO Sean Strawbridge said six companies are adding more than 20 million barrels of new oil storage over the next year. He added that the port’s existing 40 million barrels of crude storage is currently about 65 per cent full.

In addition to this news, the Port of Corpus Christi has released a statement to say it will have 17 million barrels of additional oil storage by August. The announcement comes as record low commodity prices mean producers are struggling to find a place to store their crude until prices rise.

Oil companies in the Permian Basin of West Texas and Eagle Ford Shale of South Texas will now have more storage options as a result of the move – at least until prices improve.

For more information visit portofcc.com

20th May 2020