When fully loaded, a Very Large Crude Carrier (VLCC) sits so low in the water that it almost resembles an alligator swimming along the surface of a lagoon. Bearing the weight of 2 MMbbl of crude oil, plus ballast, fuel, crew, and provisions — not to mention the ship itself — two-thirds of an oil-laden VLCC is literally out of sight. You could say the same about the development of crude export terminal projects along the Gulf Coast: not much to see, maybe, especially during the disturbingly enduring COVID-19 era, but a lot is happening under the surface. In today’s blog, we discuss the status of onshore and offshore projects aimed at streamlining the shipment of U.S. crude oil to overseas buyers.
Out of Sight – The Latest on Gulf Coast Crude Export Capacity Expansions
