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INDUSTRY NEWS

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.