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First US crude cargo from Cactus II loaded out of Corpus Christi

Houston — The first US crude cargo originating from the new Cactus II pipeline loaded onto the Aframax Paramount Hatteras out of the Buckeye Terminal in Corpus Christi, Texas, a NuStar Energy spokesman confirmed Tuesday.

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The Paramount Hatteras' discharge destination was unconfirmed, with the shipowner, AET Tankers, and Nustar Energy declining to comment Tuesday. The ship arrived in the port of Corpus Christi August 16, heading to the Galveston Offshore Lighterage Area August 18, Platts cFlow tracking software shows.

The Paramount Hatteras is currently stationary near GOLA after arriving there Monday, according to cFlow. It's likely the ship is headed to the terminal to conduct a reverse lightering job for a VLCC set to export. CFlow shows the Paramount Hatteras anchored next to the Irini N Lemos, a currently unladen VLCC. SK Energy booked the Irini N Lemos for a US Gulf Coast-South Korea run at lump sum $4.975 million, loading August 17-21, according to Platts fixture logs.

"We are excited to have these connections completed, and we are even more excited that we will soon be the first in the Port of Corpus Christi to export these barrels transported to South Texas via one of three large Permian long-haul pipeline projects," Brad Barron, president and chief executive officer of NuStar Energy, said in a press release last week.

On August 12, Trafigura announced in a press release that the 670,000 b/d Cactus II pipeline began service to Ingleside, Texas. Cactus II service to Corpus Christi is expected to start in the first quarter of 2020, Plains All American has said.

Cactus II will be joined by the 400,000 b/d EPIC crude pipeline and the 900,000 b/d Gray Oak pipeline, both expected to start up by year's end.

--Catherine Wood, Catherine.wood@spglobal.com

--Kristian Paris Tialios, Kristian.tialios@spglobal.com

2nd Annual North American Crude Oil Exports Summit | October 28-30, 2019 | Houston, Texas

The summit sets a unique global agenda, inviting international buyers and North American producers, midstream participants and ports to examine the changing dynamics of US crude quality, connectivity, pricing and new markets.

Find out more