To capitalize on the growing U.S. exports to Asia and Europe, Houston-based Enterprise Products Partners plans to develop an offshore crude oil export terminal off the Texas Gulf Coast that would be able to fully load the biggest oil tankers in the world capable of carrying 2 million barrels of oil each. Currently, the Louisiana Offshore Oil Port (LOOP) is the only oil port in the United States capable of fully loading the so-called Very Large Crude Carriers (VLCC). While U.S. production is growing and Permian production is booming, there isn’t a port along the Texas Gulf Coast that is able to load 2 million barrels of oil in one tanker because of the shallow waters close to the coast. So Enterprise Products Partners is planning to put its oil terminal offshore, some 80 miles off the coast to accommodate the huge VLCCs and thus “provide the most efficient […]