Serving the Surge in Exports America’s ports and waterways are increasingly important for supporting the growth in exports of refined products, crude oil and NGLs. Between 2007 and 2017, these waterborne exports increased more than fourfold, from 1.2 million b/d to nearly 5.4 million b/d, according to data from the U.S. International Trade Commission. 16 The increase in refined- product exports – from 1.2 million b/d to 3.3 million b/d – has been driven by a strong domestic refining industry, expanding global demand, increasing supplies of domestic crude oil and flattening domestic demand for gasoline. Exports of NGLs have been driven by strong domestic production growth and
growing global demand for petrochemicals. The increase in U.S. crude oil exports follows the relaxation of restrictions on the export of minimally processed condensate (a form of ultra-light crude oil) in 2014, the removal of restrictions on the export of all types of crude oil in late 2015, and growing interest by refineries outside the United States to process U.S.-produced crude oil. In 2017, waterborne exports of crude oil averaged more than 0.9 million b/d, up from about 0.3 million b/d the previous year. Exports of refined products, crude oil and NGLs are expected to continue increasing over the next 10 years, requiring additional investment in America’s system of ports and waterways, particularly along the Gulf Coast, where many export facilities are being constructed.
U.S. Waterborne Petroleum Exports (million b/d)
Refined Products
Crude Oil
NGLs
6.0
5.0
4.0
3.0
2.0
1.0
0.0
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
Source: Analysis of U.S. International Trade Commission Interactive Tariff and Trade DataWeb
The Fuel and Petrochemical Supply Chains
14
Made with FlippingBook - professional solution for displaying marketing and sales documents online