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Trafigura signs crude oil deal for US exports

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Trafigura is set to export significant volumes of crude oil from the US as it signs a long-term agreement with Plains All American Pipeline.

The trading house has committed to transport 300,000 barrels of crude per from the Permian Basin to Corpus Christi port via the Cactus II pipeline. The service is targeted to start in Q3 2019 with crude oil delivered Trafigura’s customers in the US and international refiners.

“This is one of the largest commitments of its kind to be signed in the US and solidifies Trafigura’s position as a leading US exporter of crude oil and refined products,” said Corey Prologo, head of oil trading and director for Trafigura North America.  “As demand for American crude continues to grow we’ll be able to bring our significant logistics infrastructure, global customer base and marketing skills to producers in the Permian Basin.”

It builds an existing deal with Plains All American Pipeline to transport 100,000 barrels of crude and condensate.