Oct. 19, 2019
Source: Reuters

Carlyle Group pulls out of $1 billion U.S. oil export project

Multinational private equity firm, Carlyle Group yesterday informed about dropping as a stakeholder in Lone Star Ports LLC, and thereby pulled out of the proposed $1 billion crude oil export terminal near Corpus Christi, Texas. Carlyle Group did not remark on why it pulled out of the project. In September of 2019, Lone Star slapped a lawsuit against Carlyle, alleging that Carlyle violated its contract to jointly pursue the project.

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