By Craig A. Hicks, March 18, 2020 -- Houston, Texas -- While markets are down, and questions loom about where oil prices are going, SGR Energy, a refined products company based in Houston Texas, announces today that it is building a crude oil export operation on the Texas Gulf Coast. Part of a long term business strategy, SGR is seeking to expand oil storage and terminaling options, while also looking at building a pipeline. As of today the company is loading 160,000 barrels of crude to a vessel at the Calhoun Port Authority with another ship scheduled to dock in about two weeks.
"SGR Energy will export more than three million barrels of crude oil through the Calhoun Port Authority by the end of 2020, and we expect to expand the operation and double that volume in 2021." -SGR Energy's Vice President Business Development, Vickie Chamberlin
SGR executives expect this new operation to add more than $270 million in annual revenue to the company over the next year, and increase significantly from there as the company's logistical infrastructure expands.
"As you can imagine any time you build the logistics around a new operation like this you're going to experience some heartburn, but the response from the Calhoun Port Authority has been great, and we intend to work with the Port for many years to come." -SGR Energy's CEO, Tommy San Miguel
About the Calhoun Port Authority
The Calhoun Port Authority serves as a gateway to world markets for the Texas mid-coast region. The port plays a vital role in supporting Texas chemical manufacturing industries and in building a stable economic foundation for Calhoun County. It is served by the Matagorda Ship Channel and the Gulf Intracoastal Waterway. Primary cargo loads handled at our port location include chemicals, petrochemicals, crude oil, agricultural fertilizer and much more.
The Port Authority serves as the non-federal sponsor of the Matagorda Ship Channel which extends 24 miles from the Point Comfort Turning Basin to the Gulf of Mexico and the shallow-draft channels to Port Lavaca and Harbor of Refuge.
About SGR Energy
SGR Energy is a rapidly growing crude oil and refined products blending and distribution company based in Houston, Texas with operations in Texas, Virginia, Panama, and Colombia. Our mission is to deliver high-quality petroleum products at competitive market prices and create maximum profit for our shareholders while also helping to positively impact global emissions with our cost-effective, cleaner burning low-sulfur fuels. The Houston Business Journal recently published that SGR Energy has been the fastest growing company in Houston since 2015.
