POTAC (Pin Oak) announced the execution of a ten year exclusive use agreement for Suezmax vessels at Public Oil Dock 14 with the Port of Corpus Christi, including extension options, exercisable by the Company, which could extend the agreement for up to an additional ten years.
"As we proved at Pin Oak Terminals in Mt. Airy, Louisiana, we are focused on developing top-tier logistics solutions for our customers, and we look forward to delivering to them a full-service transportation hub on the Corpus Christi Ship Channel," Mike added.
Pin Oak currently has contracted over two million barrels of crude oil storage supported by long-term third-party contracts, with the ability to expand its capacity on an as-needed basis. In addition to the crude oil storage and export capabilities, Pin Oak currently operates multiple pipeline connections to nearby refineries, nearly one million barrels of existing storage capacity, a vacuum distillation unit, a polymer modified asphalt plant, rail loading and unloading facilities, and a truck rack.