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Irina Slav

Irina Slav

Irina is a writer for Oilprice.com with over a decade of experience writing on the oil and gas industry.

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Texas Exports More Oil Than It Imports For First Time Ever

Oil tanker

The Texas Gulf Coast oil terminals sent abroad more crude than they received in April, the Energy Information Administration said this week. During that month, crude oil exports from the Houston-Galveston port district exceeded imports by 15,000 bpd. Over the next month, the advantage of exports over imports welled further, to an impressive 470,000 bpd.

Total U.S. oil exports in may hit a record of 2 million bpd, with Houston-Galveston’s share of the total at a record-breaking 70 percent, from an average of about 50 percent since the middle of 2017, the EIA said.

The bulk of crude oil exports from the Houston-Galveston area went to China, Canada, Italy, and the UK, with exports to China averaging 300,000 bpd in both June and July. This month, however, not a single crude oil cargo has been loaded for China, according to media reports, amid growing trade tensions between Washington and Beijing.

Meanwhile, however, Texas is on track to become the biggest oil producer after Russia and Saudi Arabia, according to production estimates by HSBC, quoted by CNN. If the estimates turn out to be correct, the Lone Star State will be pumping almost 6 million bpd in 2019.

RBC goes further, expecting production in Texas to boom to more than 6.5 million barrels daily over the next seven to ten years. Not everyone is so optimistic, however. Skeptics believe the shale oil boom in Texas led by the Permian Basin, will peak at much lower levels than 6 million bpd, not least because of the substantial debt loads of many shale drillers in the area.

Until this happens, oil production in the state is growing: over the 12 months to June it added 27 percent to 4.3 million bpd, according to the latest report from the Texas Alliance of Energy producers. This represented 40 percent of the U.S. total for that month.

By Irina Slav for Oilprice.com

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  • rjs on August 21 2018 said:
    your headline and opening line misrepresent what the EIA reported....the EIA report was just about the Houston-Galveston port, not the whole state of Texas.
  • BillyG on August 22 2018 said:
    Remember when Democrats said we couldn't drill our way out of high oil prices? Remember when Democrats said there was no point to more drilling since it wouldn't do anything for a decade?

    Drill, Baby! Drill!
  • M Hammond on August 22 2018 said:
    Oh yeah? Then why is my gas still over $2.80 a gallon?
  • Prelusive007 on August 22 2018 said:
    Maybe it's about time someone told the gasoline stations all over America that we have an oil 'glut'. The customer is obviously being gouged at the pump as this excess is certainly not helping the consumer.
  • Peter Snell on August 22 2018 said:
    Also, the headline is wrong about EVER. Houston/Beaumont/Orange Texas composite were the largest producer in the world around 1898 - 1905, shipping FAR more than local consumption. It was only when Iran & Iraq (Mesopotamia, in those days) geared up for WW1 did they pass Texas in production. (the US was still the world's leading producer then when Pennsylvania and California were added to the Texas quantities..)
  • Jerry Redmond on August 22 2018 said:
  • RioSam on August 23 2018 said:
    Why are we exporting oil? Why can't we keep our OWN oil? Therefore eliminating the need for the US to buy middle east oil? Something about this just doesn't smell right to me..
  • Sam Houston on August 23 2018 said:
    God Bless Fracking!

  • Robert Reilly on August 23 2018 said:
    America is finally becoming energy independent thanks to a president that actually knows how to run businesses. Oil production is at record highs and will be for a very long time. Steel is once again being made in the USA! U.S. Steel is opening an additional 6 steel mills in the very near future. Consumer confidence is at a record high. The stock market is at record highs increasing everyone's 401K and IRA retirement plans. Unemployment is at the lowest in our history for Blacks and Latinos and at a 65 year low for females. Manufacturing jobs have increased by over 400,000. We elected a well educated construction worker, builder, owner operator of many successful businesses such as world class hotels and golf courses. He was a TV star of his own show for 14 years. We did not elect a smooth talking politician. Our economy is rapidly growing as are jobs for all America. That being said, the DEEP STATE Elite Establishments running the media and the democrat party have worked tirelessly in attacking President Trump to go as far as establishing a special counsel to look into Trumps past in order to get him out of office. They very well may succeed but at the cost of splitting the American people like we have never seen since the Civil War. They are doing and have done more damage to America than Russia or any of our enemies could ever have hoped to do. What a shame the people that support the democrats have not seen this. abcnbccbsmsnbccnn and 90% of the print media thought they found the way to choose our future presidents by controlling what the people read, saw and heard. It worked when they sold us obama and it almost worked with hillary. Sadly America will probably turn into a country that most of us senior citizens would never recognize. Khrushchev once said the Communism and Russia will over take America from within without ever having to fire a shot. Old Nikita may be long dead but he may be DEAD RIGHT!
  • Peter Litwin on August 23 2018 said:
    And yet prices at the pump hover at a high based on “instability in the Middle East.” I guess you all will need to find a different scapegoat for gouging consumers.
  • rbblum on August 23 2018 said:
    Texas Exports More Oil Than It Imports For First Time Ever . . . Oh, really ? . . . Are all the schools in the U S failing to teach about Spindletop.
  • Paul on August 23 2018 said:
    Come on. After watching Giant, you ought to know better.
  • the blame-e on August 23 2018 said:
    A lie. "Ever?" Another lie. In all of history? The golden age for that bubbling crude, that Texas T ended in the 1970s. The article was about one port. One port. Not a whole state. Another MSM stunt. More fake news.
  • Big Papi on August 23 2018 said:
    If the Democrats regain control of Congress, they will slam the brakes on the energy industry with a return to crippling regulations demanded by the environmental radicals who dictate to them.
  • bill1942 on August 23 2018 said:
    Great news! Now, do something positive about the price of gas at the pump!!!
  • wardtom on August 23 2018 said:
    So if you are exporting more than you produce why are you importing any at all. Why not just use what you have?
  • Denver on August 23 2018 said:
    Knew it was BS as soon as I read the headline
  • Jerome Barry on August 23 2018 said:
    Oil and condensate exports from the Houston-Galveston region are all of the oil and condensate international exports from Texas. There are some gas exports from pipelines that cross into Mexico, with additional capacity for gas exports to be available soon.
  • Michael Measells on August 23 2018 said:
    Incorrect reporting and incomplete statistics:

    The statistics reported in this article appear to be for the Houston-Galveston "District", which, in US Customs/US Census reporting, is a different entity from either the "Port of" Houston-Galveston or the Texas Ports. The Houston-Galveston Port District also does not include all Waterway "Ports" in Texas. In US Census/US Customs data reporting, the Houston-Galveston "District" includes the ports of Houston, Galveston, Texas City, Freeport, Victoria, Port Lavaca, and Corpus Christi. THE HOUSTON GALVESTON DISTRICT DOES NOT INCLUDE THE PORTS OF PORT ARTHUR, BEAUMONT, AND SABINE PASS, TEXAS - the largest or second largest crude oil export complex in the US, and the third largest bulk tonnage Port in the United States.

    I do this kind of research for a living, and I would be glad to (for free) help clarify this if you have questions.

    Mike Measells
    Beaumont, Texas
  • Silverado on August 23 2018 said:
    So why are gas prices at the pump still high, and rising?
  • blue on August 23 2018 said:
    That's great texas, now take THAT money, and pay off your debts to Washington, and any loans. Furthermore, Austin--STOP BLOWING CASH.

    @rjs: texas has one major port, it's in galveston/houston. Where do you think it's exported? Amarillo? Good luck with that.
  • BobUSAFret on August 23 2018 said:
    Thanks to Pres Trump and American ingenuity.
  • NoRightToNotBeOffended on August 23 2018 said:
    And yet, gas is still$3 a gallon.
  • David P on August 23 2018 said:
    Why import at all?
  • Trump Forever on August 23 2018 said:
    It's Trump's fault. Impeach him!
  • Hu R. Yu on August 23 2018 said:
    Go Trump!
  • Semeon Gladkoff on August 23 2018 said:
    In response to rjs. "The Texas Gulf Coast oil terminals sent abroad more crude than they received in April, the Energy Information Administration said this week." wtf is so misleading? "the EIA report was just about the Houston-Galveston port, not the whole state of Texas." Gulf coast oil terminals is pretty clear to me.
  • David Hedricks on August 23 2018 said:
    So then why does my gas cost $3.00/gallon? How about we use our own oil and save money ...
  • Keith on August 23 2018 said:
    I saw a post from someone who said "why are we exporting oil? So this guy reads Oilprice.com and doesn't understand this? We are exporting surpluses of sweet and importing needed cheaper sour.

    There are a dozen other reasons and it's very complex system. Factors include ports available for import and export for different kinds of prices at different distances. Trade agreements and changing long and short term trading partner relationships to name a few factors.

    In any case "bravo" and well done. More to build a trade surplus and shrink the deficit. Something desperately needed.
  • big biz on August 23 2018 said:
    Impeach 45
  • Christopher D Perrien on August 23 2018 said:
    Does this site have anyone with any knowledge of the history of oil supply and the oil business editing these articles? Apparently not. Texas was the world's largest oil supplier for around 50 years. It fueled the war machines of both the USA and Britain in WWII. First time ever ? LOL, "Spindletop" anyone?

    Somebody should at least read the book "The Prize" as apparently they have never heard of it either.
  • FreeRepublic on August 23 2018 said:
    As to oil imports and exports, remember that there are varying grades of oil. It's not just oil; there are different kinds. Also oil is not very useful until it has been refined. So you have to look at the location of refineries, what type of oil each can process, and what product it produces. Gasoline, and other products, have to be distributed. The cheapest, safest way is through pipelines. They're not fast. They move products about as fast as you can walk.

    How long has it been since we built a refinery? 50 years? More US refineries should help lower the cost of gasoline. More oil and gasoline means lower prices - for someone. Initially, it may be the Europeans who benefit since they have sky high gasoline prices. Democrats have always wanted us to join Europeans with their high gasoline prices, to encourage conservation. In the UK, they pay more than 6$ a gallon.

    Oil exports should strengthen the dollar. I pulled up a chart of dollars vs. euros. The dollar strengthened under President Trump. For some reason, some of that gain was reduced in April and May. The strength of the dollar reflects many things, including ALL imports and exports.
  • mark on August 23 2018 said:
    So why are we paying such high prices at the PUMP!?
  • Paul J. Klosterman on August 23 2018 said:
    Everything's bigger in Texas!
  • Freempg on August 25 2018 said:
    The price of gasoline is artificially high for a dearth of refineries. At least build one more.

Leave a comment

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