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INDUSTRY NEWS

10th September 2018

Huelva LNG Terminal to Get Small-Scale Loading Capability

Enagás has awarded a contract to Spanish engineering company Ayesa to redesign the jetty at its Huelva LNG terminal. The revamped mooring set-up will enable the loading of small-scale gas carriers, including LNG bunker vessels (LNGBVs), and the direct loading of bunker tanks on LNG-powered vessels.

10th September 2018

Oiltanking - 50th Ship-to-Ship Transfer in Açu Port, Brazil

Açu Petróleo, the joint venture of Oiltanking and Prumo Logística, announces the 50th crude oil transshipment (ship-to-ship) at its Açu Petróleo terminal in Açu Port located near São João da Barra in Rio de Janeiro state. This is a significant milestone, as an average of 1 million barrels of crude oil (approx. 158,000 cbm) is moved per transshipment.

10th September 2018

Drones Solving Safety Challenges Within the Tank Storage Industry

A report published within the Journal of Loss Prevention in the Process Industries uncovered that 74 percent of accidents that occurred within industrial facilities took place in oil storage terminals and petroleum refineries. Human error was also identified as the biggest risk to terminal operators.

8th September 2018

German LNG terminal talks restart

Germany has revived plans to build a major liquefied natural gas (LNG) terminal on its Baltic coast to exploit deepening ties with Qatar, help meet environmental targets by cutting coal use and reduce dependence on imported Russian natural gas. 

7th September 2018

Qatar eyes Germany's energy, finance sectors with 10 billion euro investment

The Gulf state of Qatar said on Friday it would invest 10 billion euros (8.9 billion pounds) to strengthen its ties with Germany over the next five years, including the possible creation of a liquefied natural gas (LNG) terminal.

5th September 2018

Europe Should Get Over Oil Storage and Look to Gas, OIES Says

Europe’s strategic energy reserves shouldn’t be all about oil. As natural gas gains ground in the global energy transition, the cleanest fossil fuel should be allowed to replace some compulsory crude and oil product storage, according to Thierry Bros, a senior research fellow at the Oxford Institute for Energy Studies.

4th September 2018

UAE's GP Global eyes downstream sector, LPG bottling for growth

UAE-based GP Global is venturing into new downstream projects while exploring options to expand its storage business in new markets as it becomes an integrated oil and gas participant, the company's India country head M. Prabakaran said late last week.

31st August 2018

Global Storage Tank Market Is Expected To Witness Rapid Expansion By The End Of 2025

The Global Storage Tank Market research report provides basic overview of the market including definitions, classifications, applications and Global Storage Tank industry overview; manufacturing processes; raw materials, product specifications; cost structures and so on. Then it analyzed the world’s main region market conditions, as well as the product price, profit, capacity, production, supply, demand, growth rate and forecast etc. Then, The report analyzes global trends, future growth of Global Storage Tank market, key drivers, competitive outlook, restraints, various opportunities, industry challenges and value chain analysis. This report also presents a detailed analysis of industry, market size, and forecasting for the emerging segment within the market. The report is completely segmented by product type, application, vertical, and region.

31st August 2018

Crude oil continues to drive healthy terminal sector, but challenges arising as terminal values tighten

PRESIDENT Donald Trump has been very good for the oil industry, and that includes the companies that own and operate the storage terminals that handle crude oil, refined petroleum products and liquefied natural gas.

31st August 2018

Montoir-de-Bretagne LNG terminal breaks European records

The terminal received 13 tankers for four unloadings, three reloadings and three transshipments of LNG cargo within a single month – a record for Europe. The week of 15 August included saw Elengy’s teams complete three LNG transshipments within seven days, a first for a European LNG terminal. In the same week, the terminal completed its tenth LNG transshipment since the beginning of the year, boosting it to first place in Europe in this area.

30th August 2018

Odfjell SE Announces Q2 2018 Results

Odfjell SE announced its results for Q2 2018, the results reflect the impact of the sale of the Rotterdam terminal, while underlying results from Odfjell Terminals improved compared to the previous quarter.

29th August 2018

United States Will Drive Growth For Oil Storage Industry in North America, Says GlobalData

The US will drive most of the growth in oil storage industry in North America between 2018 and 2022, according to leading data and analytics company GlobalData. The country is set to add more oil storage capacity than any other country in the region during the outlook period. 

29th August 2018

Gunvor Halts Rotterdam Refinery Upgrade for New Shipping Fuels

Global energy trader Gunvor Group GGL.UL has put on hold plans to add a fuel upgrading unit at its Rotterdam refinery intended to create shipping fuels that adhere to new rules on sulphur emissions, it said on Tuesday, citing market conditions.

28th August 2018

Fire breaks out at Plains All American crude tank near Wichita Falls, Texas

A fire broke out on Tuesday morning at a Plains All American Pipeline crude storage tank east of Wichita Falls, Texas, the company said. The fire was limited to a single storage tank at the Wichita Falls Station, the company said, and none of its workers were missing. Plains did not say if there were injuries, but did say that first responders were on site.

27th August 2018

Maersk Selects Vopak-Europoort as European Low-Sulphur Fuel Hub

For Maersk Line, Rotterdam is to become the European hub for low-sulphur bunker fuel. Maersk Oil Trading will be storing an annual 2.3 million tonnes of this cleaner fuel (sulphur level below 0.5 percent) at the Vopak-terminal in Europoort.

 

 

21st August 2018

PDVSA Settles With NuStar On Caribbean Storage Hub

Venezuela’s state-owned oil company, PDVSA, has struck an agreement with oil storage facilities operator NuStar to resume the use of a terminal on the Caribbean island of St. Eustatius.

11th August 2018

What Would A Hard Brexit Mean For British Oil?

It’s been more than a year after the groundbreaking Brexit vote, in which the British public decided to leave the European Union in a controversial upset. Despite 14 months of prep time, many industry leaders and economic experts are crying out that it’s still too soon to cut ties with tax-free international trade without causing major economic fallout for the United Kingdom.

10th August 2018

Odfjell to Sell Rotterdam Terminals

Odfjell Terminals has announced its intention to sell its 100 percent ownership of Odfjell Terminals Rotterdam (OTR) and Odfjell Terminals Maritiem to Koole Terminals of the Netherlands for $155 million.

3rd August 2018

PSA Enters North American Inland Terminal Market

PSA International yesterday announced the signing of an investment agreement with Ashcroft Terminal, whereby PSA acquires 60% of this rail terminal in Western Canada. 

3rd August 2018

Tallgrass to Develop Cushing-to-St. James Oil Pipeline, Terminal

Tallgrass Energy LP, Leawood, Kan., plans to build a crude oil pipeline from Cushing, Okla., to the St. James, La., refining complex, as well as a separate new export-capable liquids terminal near the mouth of the Mississippi River.

2nd August 2018

Magellan Midstream and LBC to further expand crude oil marine terminal

Magellan Midstream Partners, L.P. and LBC Tank Terminals, LLC are further expanding the infrastructure of Seabrook Logistics, LLC, owned 50/50 by subsidiaries of Magellan and LBC, by increasing Seabrook Logistics' crude oil and condensate storage and dock capabilities in the Houston Gulf Coast area.

30th July 2018

TechX Ventures to create new deep science technology for oil and gas

The Oil & Gas Technology Centre launches TechX Ventures – a partnership with Deep Science Ventures (DSV) that combines deep science with engineering to create start-up companies with technologies that position the oil and gas industry for a sustainable future in a low carbon economy.

27th July 2018

BHP Agrees to Sell US Onshore Assets for $10.8B

BHP has entered into agreements for the sale of its entire interests in the Eagle Ford, Haynesville, Permian and Fayetteville onshore U.S. oil and gas assets for a combined base consideration of $10.8 billion.

26th July 2018

Trump: Europe to Become 'Massive' Buyer of U.S. LNG

Europe will build more terminals to import U.S. liquefied natural gas, the head of the European Commission told U.S. President Donald Trump during a meeting aimed at averting a transatlantic trade war.

20th July 2018

Analyst: New Pipeline in Mexico to Help Relieve Permian Bottleneck

A new pipeline in northern Mexico should provide some relief for oil producers in the Permian Basin who are struggling with limited takeaway capacity for associated natural gas, according to BMI Research.

10th July 2018

CLH signs agreement with HST to build and manage new storage facility in Mexico

Spanish oil transportation and storage operator CLH plans to acquire 60% of Mexican company HST. Following the acquisition, CLH intends to construct and operate a new facility for the storage of oil products located in the metropolitan area of the Valle de México.

9th July 2018

Kinder Morgan, EagleClaw & Apache to develop Permian pipeline

Kinder Morgan Texas Pipeline, EagleClaw Midstream Ventures and Apache Corporation plan to develop the Permian Highway Pipeline Project for the region's growing natural gas production.

9th July 2018

Oiltanking Africa to Expand its Saldanha Bay Oil Hub

July 9, 2018 [Tank News International] - Oiltanking Africa has announced it is expanding its crude oil storage facilities by 30% at its Saldanha Bay Oil Hub in South Africa.

9th July 2018

Stolthaven Terminals reports operating profit decline

Stolthaven Terminals is experiencing gradual improvements in its performance despite reporting a decline in its operating profit.

6th July 2018

Rangeland Energy Initiates Operations at its New Terminal in Corpus Christi

July 6, 2018 [Tank News International] - Rangeland Energy III has commenced operations at its STEPS terminal located in Corpus Christi, Texas. Rangeland also announced that in June the company will start loading diesel in rail tank cars for a leading customer in the refined products industry. The diesel will be delivered to a third party with terminals in Mexico using the rail system of Kansas City Southern Railways.

2nd July 2018

ODC Terminal Enters Storage Agreement with Oil Major

July 02, 2018 [Tank Storage Magazine] - Oil Deposit Corunna has entered into a storage agreement for crude oil and petroleum products with a top 10 oil major.

2nd July 2018

Global chemical storage tank market survey and reviews, analysis 2018-2025

Recently published global market study "Chemical Storage Tank Market" in-depth Research of the Chemical Storage Tank market state and the competitive landscape globally.

2nd July 2018

Odfjell to Sell Terminal in Rotterdam

Reference is made to the stock exchange announcement of May 8th, 2018, in which Odfjell SE (Odfjell) announced that Lindsay Goldberg (LG) is considering a sale of its 49% shareholding in Odfjell Terminals B.V. (OTBV), and the announcement that Odfjell would consider tagging along on an outright sale of OTBV subsidiaries Odfjell Terminals Rotterdam (OTR) and Odfjell Terminals Maritiem (OTM).

29th June 2018

Titan Boasts New LNG Bunker Customer in Rotterdam

Liquefied natural gas (LNG) bunker supplier Titan LNG syas it has a new customer in Rotterdam.

27th June 2018

Oil and gas decomissioning costs fall

The estimated cost of decommissioning oil and gas assets in the North Sea has fallen by 7 per cent according to industry research.

26th June 2018

France's Total sees natural gas demand far outpacing oil

French oil and gas company Total SA expects the global natural gas market to grow far faster than that for crude oil over the next two decades thanks to booming demand for the cleaner-burning fuel in Asia, an outlook that underpinned Total's recent big investments in the space.

25th June 2018

Koole Tankstorage Minerals to Expand Storage and Rail Facilities

Koole is to further expand its biodiesel storage portfolio and block train rail facility at Koole Tankstorage Minerals (KTM) in Rotterdam.

25th June 2018

Vopak Terminal ACS to Increase Tank Wagon Handling Capacity by 400%

Vopak Terminal ACS in Antwerp today (June 14) opened a new loading station for loading block trains, increasing the capacity to handle tank wagons at the terminal by 400%.

22nd June 2018

NW Natural Signs Agreement to Sell Gill Ranch Storage LLC

NW Natural (NYSE:NWN) today announced that NW Natural Gas Storage has entered into an agreement to sell its wholly-owned subsidiary Gill Ranch Storage LLC to SENSA Holdings LLC (SENSA), an investment partnership led by eCorp Storage.

22th June 2018

Yamal LNG Shipped First LNG Cargo to Spain

Moscow, PAO NOVATEK (“NOVATEK”) announcedthat Yamal LNG shipped the first cargo of liquefied natural gas (LNG) to Spanish company Gas Natural Fenosa in accordance with the long-term offtake agreement.

15th June 2018

Croatia's Parliament Gives Go Ahead for EU-backed LNG Terminal

Croatia passed a law on Thursday to enable the construction of a liquefied natural gas (LNG) terminal, part of a European Union drive to diversify away from Russian gas imports.

13th June 2018

North America oil storage market expected to reach $44,333 million by 2023, says Allied Market Research

According to a new report published by Allied Market Research, titled, North America Oil Storage Market, by type, Material, and Product Design: Opportunity Analysis and Industry Forecast, 20172023.

13th June 2018

KN Plans to Construct 10 News Oil Product Tanks

AB Klaipėdos nafta (KN) is currently implementing investment stage II which includes plans to build 10 new oil product tanks, a new unloading rack and a new railway track.

8th June 2018

IoT is the key

Industry 4.0 is an encroaching reality that is increasingly blurring the boundary between the digital and physical worlds. As a result, technologies such as predictive analytics, artificial intelligence and the Internet of Things (IoT) stand to transform a range of industrial processes.

8th June 2018

LBC Tank Terminals appoints chairman

LBC Tank Terminals has announced the appointment of Haroun van Hövell as chairman of the board of directors, effective 1 June. van Hövell has extensive experience in energy, infrastructure, private equity and finance.

1st June 2018

Spain’s CEPSA Developing Drones that Can Inspect Oil Facilities

Spanish oil company Cepsa is teaming up with engineering firm La Línea Vertical and Dronetool to develop an aerial technology for oil facilities inspection and maintenance.

1st June 2018

Turnover of VNT Oil Terminal Drops 15.9% in 2017

Turnover of Ventspils Nafta Terminals (VNT), a stevedore of Ventspils Nafta holding, dropped by 15.9% last year to EUR 52.842 million, while its profit rose 22.9% from a year before to EUR 16.137 million, writes LETA, according to the company's financial report available in Firmas.lv business database.

1st June 2018

LBC Tank Terminals appoints chairman

LBC Tank Terminals has announced the appointment of Haroun van Hövell as chairman of the board of directors, effective 1 June. van Hövell has extensive experience in energy, infrastructure, private equity and finance.

29th May 2018

Total expands partnership with Novatek through Artic LNG 2 project

Paris - In the presence of the President of the Russian Federation, Vladimir Putin, and the President of the French Republic, Emmanuel Macron, Total has signed an agreement with Novatek outlining the terms upon which Total shall acquire a direct working interest of 10% in Arctic LNG 2, a giant liquefied natural gas project lead by Novatek on the Gydan Peninsula in the north of Siberia.

28th May 2018

Port of Corpus Christi to look at whether Habour Island plans are feasible

May 28, 2018 [Caller Times] - If the Port of Corpus Christi fulfills its grand plans for Harbor Island, the property could become a jewel of the shipping industry.

22nd May 2018

Financial Closing Gives Wärtsilä The Go-Ahead For Building The New Hamina LNG Terminal

May 22, 2018 [Oil and Gas Online] - The LNG terminal to be built at the Finnish Port of Hamina by the technology group Wärtsilä under a turnkey contract has reached financial close and received the necessary building permits.

21st May 2018

Global Oil Storage Market: Fluctuating Crude Oil Prices to Fuel the Market

The beginning of 2016 marked a historic drop in oil prices, hitting a 12-year low. The plummeting prices reflected the drastic change in oil trends, wherein the global supply of crude oil surpassed its demand. The downturn in oil prices resulted in a severe oil glut, creating a storage crunch. Considering that more crude oil was being stored rather than sold or refined, the demand for oil storage facilities has surged over the past few months.

17th May 2018

Vopak Terquimsa Enters Phase II Expansion

Vopak’s Spanish joint venture Vopak Terquimsa is set to begin construction work on the second phase of its expansion project at the Tarragona terminal.

17th May 2018

Port of East London to Expand Its Petroleum Footprint

More than 100 attendees representing 97 companies have shown keen interest in the Port of East London’s plans to recommission an existing tank in the port for handling of liquid bulk and to introduce a liquid bulk terminal through a 25-year port concession awarded to a private, empowered entity.

15th May 2018

Keyera Awards Matrix Service Turnkey EPC Contract for Greenfield Crude Oil Storage and Blending Terminal at Cushing

Matrix Service Company (Nasdaq:MTRX) announced today that Keyera Energy Inc., a subsidiary of Keyera Corp. (TSX:KEY) has awarded Matrix Service Inc. the engineering, procurement, fabrication and construction of its Wildhorse Terminal, a greenfield aboveground crude oil storage and blending terminal at Cushing, Oklahoma. The terminal will include 12 aboveground storage tanks and provide 4.5 million barrels of storage capacity, and will initially be pipeline connected to two existing storage terminals in Cushing, providing Keyera’s customers with access to the majority of crude oil streams flowing in and out of Cushing on several major pipeline networks. An affiliate of Lama Energy Group will own 10% of the project.

11th May 2018

Oil storage terminal in Birżebbuġa refused

Plans for a new oil storage terminal in Birżebbuġa have been turned down by the Planning Authority after years circling the drain. The PA board on Thursday unanimously rejected the application, which had met with strong opposition from residents and the Birżebbuġa local council.

11th May 2018

HEP begins operations at its new Corpus Christi bulk liquid terminal

Howard Midstream Energy Partners (HEP) and its bulk liquid terminal subsidiary Maverick Terminals Corpus have completed the new bulk liquid terminal facility in the Port of Corpus Christi. 

Operations have commenced including the storage, blending, and unit-train loading of two grades of gasoline; ULSD and gasoline blend stocks from various local refineries.

10th May 2018

Lindsay Goldberg Considering Sale Of Its 49% Stake In Odfjell Terminals

Lindsay Goldberg is considering sale of its 49% stake in Odfjell Terminals B.V. while Odfjell SE is considering a tag along of its 51% shareholding in Odfjell Terminals Rotterdam.

9th May 2018

BP chooses hte to test commercial refining catalysts

hte – the high throughput experimentation company has been selected by BP to evaluate commercial catalysts for both naphtha reforming and hydrocracking applications using high throughput technology under commercially relevant conditions for its refineries around the world.

9th May 2018

New agreements with SEPA

Last month, the Federation of Petroleum Suppliers (FPS) met with the Scottish Environment Protection Agency (SEPA) regarding the introduction of new legislation which affects over 95 heating oil and fuel distribution depots across Scotland.

30th April 2018

Where Are the Most Storage Investments Planned?

All over the world, there are independent tank storage companies that support market players in storing their oil products. 

They help oil companies that have downstream obligations with storing products or support trading companies seizing (arbitrage) opportunities or governments and oil companies with building their strategic reserves. Tank terminals have an important of not a primary function in the oil and gas value chain.

30th April 2018

Saipem starts laying Norway's largest oil pipeline

The operations to install Norway’s largest pipeline to the Johan Sverdrup field started outside Mongstad, north of Bergen, late last week onboard the vessel Saipem Castorone.

Soon the tip of the first pipe of what will become Norway’s longest and largest oil pipeline will be pulled into the Mongstad terminal, north of Bergen. The 36” pipeline which will extend more than 280 km out to the Johan Sverdrup field once installed, is being pulled through a pre-drilled hole at the bottom of the Fensfjord into the oil terminal. When the Johan Sverdrup field produces at peak up to 660,000 barrels of oil will flow daily into Mongstad. 

20th April 2018

Vopak Sees Potential To "Significantly" Improve 2019 Earnings

Dutch oil and chemical storage company Vopak reported a 6 percent drop in first-quarter core earnings, but still beat forecasts and said it sees the potential to significantly improve its performance next year

13th April 2018

Statoil, Total Complete Acquisition of Interest in GOM's North Platte Discovery

Statoil and Total have completed their acquisition of Cobalt International Energy’s 60% operated interest in the North Platte discovery in the U.S. Gulf of Mexico (GOM) for an aggregate purchase price of $339 million. The partners had jointly presented the winning bid for the asset in a bankruptcy auction of some of Cobalt’s assets that was held on March 6, 2018.

13th April 2018

Optimizing Quill and Injector Performance in Refinery Operations

There are dozens of operations in refineries where quills and injectors are used. It is important to understand the differences between a quill and an injector. The terms are often used interchangeably even though the devices are quite different. An injector has one or more spray nozzles on a pipe and delivers a specific volume of fluid at a specified pressure drop. See Figure 1. The nozzle(s) convert fluid into a predictable drop size spectrum and provide specific spray characteristics. The use of spray nozzles allows more control over the distribution of the injected liquid into the receiving process fluid.

12th April 2018

BP and Petrobras form strategic alliance

BP today announced that it has signed a memorandum of understanding to explore areas of cooperation with Petróleo Brasileiro S.A. (Petrobras). Through this strategic alliance, Petrobras and BP have committed to exploring potential joint commercial agreements in areas of mutual interest in upstream, downstream, trading and across low carbon initiatives, inside and outside Brazil. The alliance is also expected to include the transfer of technology, as well as joint training and research.

9th April 2018

Drilling under way on Lundin’s Alta field

Swedish oil firm Lundin Petroleum said today that drilling had commenced on the Alta discovery in the southern Barents Sea.

6th April 2018

Macquarie, Goldman Sachs Funds to Buy Port Terminal Group HES International

Infrastructure funds managed by Macquarie and Goldman Sachs have agreed to buy Dutch port terminals operator HES International from owners Riverstone and The Carlyle Group, they said on Tuesday.

4th April 2018

Share Holders Okay Macquarie, Goldman Sachs to Acquire HES International

Riverstone Holdings and The Carlyle Group jointly announce that  they intend to sell HES International to a consortium of Macquarie Infrastructure and Real Assets (MIRA) & Goldman Sachs. 

3rd April 2018

Pemex signs oil storage contract

Petróleos Mexicanos has signed a contract with the domestic company Olstor Services to increase its oil product storage capacity.