Trafigura Trading LLC, a wholly-owned subsidiary of Trafigura Group Pte Ltd, has announced the signing of a long-term commitment with Plains All American Pipeline LP for the receipt of crude oil and condensate from Midland, Texas to Corpus Christi, Texas.
The long-term agreement starting with immediate effect, enables Trafigura to receive up to 100 000 bpd of product p at Corpus Christi. This commitment will enable Trafigura to buy from producers in the Permian basin, the fastest growing oil exploration area in the US, and receive crude and condensate for the company's condensate splitters and export terminal in Corpus Christi that is co-owned with Buckeye Partners L.P.
"Trafigura already has a leading role in exporting crude oil and refined products from the US," said Kevin Jebbitt, Co-head of crude oil trading at Trafigura. "Today's agreement will connect producers in the Permian basin to our significant logistics infrastructure, global customer base and marketing power on a long term basis."
Founded in 1993, Trafigura is one of the largest physical commodities trading groups in the world. Trafigura sources, stores, transports and delivers a range of raw materials (including oil and refined products and metals and minerals) to clients around the world. The trading business is supported by industrial and financial assets, including 49.6% owned global oil products storage and distribution company Puma Energy; global terminals, warehousing and logistics operator Impala Terminals; Trafigura's Mining Group; 50% owned DT Group which specialises in logistics and trading; and Galena Asset Management. The Company is owned by around 600 of its 4100 employees who work in 61 offices in 36 countries around the world. Trafigura has achieved substantial growth over recent years, growing revenue from US$12 billion in 2003 to US$98.1 billion in 2016. The Group has been connecting its customers to the global economy for more than two decades, growing prosperity by advancing trade.
Read the article online at: https://www.worldpipelines.com/business-news/06072017/trafigura-signs-new-export-agreement/