Oil and Natural Gas Remain Backbone of Economy
Published Oct 07, 2008
Valero Energy Corp.’s refinery in Corpus Christi, which opened in 2003, employs more than 1,000 people and has an annual payroll of about $72 million. CITGO Petroleum Corp. and Flint Hills Resources LLP also operate refineries in Corpus Christi.
As “black gold” - oil - and natural gas skyrocket in stature as precious commodities, the Coastal Bend takes on even more sheen as a hotbed for energy exploration and production.
The region is part of the Texas Gulf Coast Refinery cluster, which accounts for 86.7 percent of the state’s oil and gas capacity, according to a report by the office of Gov. Rick Perry. Statewide, about 250,000 Texans work in oil and gas exploration, production, refining and related industries.
Three refining companies - CITGO Petroleum Corp., Flint Hills Resources LLP and Valero Energy Corp. - each have two plants in the Coastal Bend. Combined, they spend well over $100 million a year to keep their refineries running, and they employ nearly 3,000 people locally.
Accordingly, Coastal Bend economic development professionals have targeted the energy sector as a priority field for job development and new investment.
The Coastal Bend region attracted Valero, North America’s largest oil refiner, in 2003. That refinery now has an employee base of more than 1,000 and an annual payroll of about $72 million.
“We chose Corpus Christi because of the positive business climate and the welcoming atmosphere for our type of business,” says Bill Day, Valero’s media relations director. “We remain there and continue to expand there because of those same characteristics.
“I think that’s why we’re all there - everyone recognizes the benefits,” Day adds. “There are a lot of services and amenities clustered there, and there’s a great workforce available that is experienced in this field.”
CITGO’s Corpus Christi plant employs more than 500 and has a payroll of about $36 million. Its 900-acre site has six docks for ships and barges and two wastewater treatment plants.
Flint Hills Resources employs more than 1,000 people and has a payroll of about $72 million.
Roland C. Mower, president and chief executive officer of the Corpus Christi Regional Economic Development Corp., calls the industry a mainstay of the area’s business community. “The oil and gas industry has been a strong foundational element of our regional economy for many years, and we project it will continue for many more,” he says.
Story by Kelli Levey
Photo by Jesse Knish
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