Enterprise Products in deal with Chevron to develop crude oil port

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Enterprise Products in deal with Chevron to develop crude oil portEnterprise's offshore crude oil terminal is one of at least eight projects proposed off the Texas and Louisiana coasts to export oil from the region's shale fields. It would compete with projects proposed by commodities trader Trafigura Ltd, private equity firm Carlyle Group , and pipeline operators Magellan Midstream Partners , Tallgrass Energy LP , and Phillips 66 . The companies hope to take advantage of rising shale production from the Permian Basin of West Texas and New Mexico, especially when another 2.3 million barrels per day of shale is expected to land at the U.S. Gulf Coast in the next year as new pipelines begin operation.


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