A group led by Phillips Petroleum Co. will begin the second phase of a feasibility study for a supertanker oil terminal off Texas. Eighteen oil and oil related companies took part in the first phase of the study that began earlier this year. The study could lead to construction of a project designated Texport about 27 miles off Freeport in 110 ft of water. The facility, which could cost $600 million to $1.3 billion, would be designed to handle 1-2 million b/d. The country's only supertanker port at present is Louisiana Offshore Oil Port (LOOP). WHAT'S UNDER STUDY The second phase of t...

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