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Carlyle prepares to sell 25% stake in oil export project for $625 mn

Carlyle, US crude pipelines

Carlyle is also in discussions with three companies to jointly operate crude pipeline from Houston to Corpus Christi

American multinational asset management company Carlyle is in talks with three companies to sell a 25 percent stake in its crude oil export terminal  for $625 million. The export terminal is situated in Corpus Christi, Texas. The three companies operate terminals and pipelines. In addition, Carlyle is looking to jointly operate a crude oil pipeline with those three companies from Houston to Corpus Christi. However, the identity of those companies are not disclosed.

In a joint effort, Carlyle along with the three companies are working to open eight facilities to globally export US crude oil from the US Gulf Coast. Of the three companies, one of them operating in Houston could close the deal with Carlyle as early as Friday, according to ET Energy World.  

The joint venture pipeline would have a capacity to carry crude from Houston to Corpus Christi with an estimated capacity of between 700,000 to 1.2 million barrels per day, a source close to the matter said.

The pipeline might provide an alternate access to US oil producers, the media report said. Currently, Carlyle’s facility is connected to oil producers in the Eagle Ford and the Permian Basin, considered as the two largest oil fields in the US.

Also, the asset management company is seeking to raise $4 billion fund for investing in oil and gas assets outside North America, the Financial Times reported. The fund will be used to acquire companies in the energy supply chain, exploration, and production. A source close to the matter said, not so many investors are deploying money in Africa, the North Sea and Russia, so there is an opportunity.”

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