Trafigura begins transporting crude oil from the U.S. Permian Basin to the Gulf Coast via the Cactus II pipeline
Trafigura Trading LLC, (“Trafigura”), a wholly-owned subsidiary of Trafigura Group Pte Ltd, a market leader in the global commodities industry, today announced that it has commenced shipments of crude oil from the Permian Basin to the Corpus Christi / Ingleside, Texas area via the newly operational Cactus II Pipeline system (“Cactus II”).
This activity is underpinned by a significant long-term volume commitment executed and announced by Trafigura in early 2018 and represents the initial commercial service of Cactus II, with its deliveries connecting to a waterborne export service to Europe and beyond.
Trafigura’s strong presence in the U.S., extensive investments in gathering and logistics infrastructure, global customer base and marketing skills, have led the company to become the leading exporter of the country’s crude oil and refined products.
“Trafigura is at the forefront of connecting the American barrel to the global market,” said Kevin Jebbitt, Head of Crude Trading for Trafigura. “Thanks to our worldwide network, we can demonstrate to U.S. producers a unique ability to place barrels with end customers around the world, from the Mediterranean to the Far East. WTI is fast becoming a global benchmark again, having shown its relevance to the physical markets.”
The Cactus II Pipeline system extends from the Permian Basin to the Corpus Christi / Ingleside, Texas area and will have the ability to transport 670,000 barrels of crude oil per day.