Consortium to build biggest U.S. oil import terminal

NEW YORK (Reuters) – A consortium of oil pipeline and storage companies plans to invest $1.8 billion to build the United States’ biggest deepwater oil import terminal in Texas, the companies said on Monday.

The terminal will have double the import capacity of the Louisiana Offshore Oil Port, currently the only oil terminal in the United States capable of handling the biggest oil tankers.

The project will be able to deliver up to 1.8 million barrels per day of oil to refineries along the Texas Gulf Coast. The port would also include storage for 5.1 million barrels of oil.

Reuters