TX - Port of Corpus Christi ready to step up to meet demand for crude oil
Ken Britton, CFO for the Port of Corpus Christi, said the Port stands ready to get more oil to Europe now that the region is apparently set to go Russian free.
CORPUS CHRISTI, Texas — Officials with the Port of Corpus Christi said they are ready to step in and help meet those countries need for crude.
Ken Britton is the CFO for the Port and said the their first quarter numbers this year were 16-percent better than last year's numbers. That translated to another three-to-four million dollars in revenue.
Even with that increaser in business he said the Port stands ready to get more oil to Europe now that the region is apparently set to go Russian free.
"We are well positioned to handle more oil coming out of west Texas, out of the eagle ford out of the Permian and moving it through the Port of Corpus Christi out to our allies, our trading partners in Europe," Britton said.
He also pointed out that last year there were 1.7 million barrels of oil a day being exported from the Port. According to Britton, analysts believe that number could go up to 2.7 million barrels a day.