Report: Louisiana Offshore Oil Port Could Become Trading Hub

PORT FOURCHON, LA (AP) — Consulting group RBN Energy LLC says the Louisiana Offshore Oil Port could be transformed into a "crude blending and trading hub" if improvements are made to handle exports.

         The Advocate’s Ted Griggs reports turning LOOP into an export facility is in early stages. RBN says making that a reality would require changes, like building a 48-inch pipeline connecting LOOP's Clovelly storage facility to St. James flow in both directions.

         In November, LOOP began seeking customers for a planned service that would send crude brought in from the Gulf of Mexico to Texas refineries. LOOP spokesman Terrance Coleman says LOOP is currently in discussions with a number of refinery customers for the Gulf of Mexico crude.

         RBN says converting LOOP into an export terminal would lower shipping costs, and would also make LOOP's Clovelly storage facilities more valuable to traders.

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