Trafigura begins transporting crude oil from the U.S. Permian Basin to the Gulf Coast via the Cactus II pipeline
Houston, 12 August 2019 - 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.
For further information please contact:
Trafigura’s Global Press Office: +41 22 592 45 28 or firstname.lastname@example.org
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Notes to Editors
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 49.3 percent owned global oil products storage and distribution company Puma Energy; global terminals, warehousing and logistics operator Impala Terminals; Trafigura's Mining Group; and Galena Asset Management. The Company is owned by around 700 of its 4,300 employees who work in 66 offices in 38 countries around the world. Trafigura has achieved substantial growth over recent years, growing revenue from USD12 billion in 2003 to USD180.7 billion in 2018. The Group has been connecting its customers to the global economy for more than two decades, growing prosperity by advancing trade. Visit: https://www.trafigura.com