Egypt signs deal for green development of hydrogen energy
The Egyptian government has signed of intentions with Siemens Aktiengesellschaft (Siemens AG), for the start of discussions and studies to implement a pilot project for the production of green hydrogen in the country. The agreement which was signed by Mohamed Shaker, the Egyptian Minister of Electricity and Renewable Energy, representing the North African country’s government, […]
Yangzijiang sets up new LNG joint venture
Yangzijiang Terminals China Holdings (YTCH), a subsidiary of Singapore-listed Yangzijiang Shipbuilding, has formed a new LNG joint venture company – Jiangsu Run Yuan Energy – with Wuxi China Resources Gas (WCRG) and Jiangyin Xinyangchuan Enterprise Management Center. WCRG is a leading gas utilities group in China while Xinyangchuan is an investment firm focussed on energy, […]
Buckeye completes second South Texas deepwater dock
Midstream investment company Buckeye Partners has completed its second deepwater dock at the South Texas Gateway (STG) terminal at the mouth of the Corpus Christi Ship Channel in Ingleside, Texas, US. Crude oil operations at the new dock began at the end of December 2020, with the loading of the first very large crude carrier […]
Magnolia Tank Farm project is the right reuse for Huntington Beach
Like communities across the nation, Huntington Beach has suffered through the pandemic, impacting not only residents’ health, but wreaking havoc on the local economy and municipal finances. At this challenging time, it is important leaders embrace opportunities to repair and renew economic resilience and community health. Huntington Beach City Council has such an opportunity on […]
India unlikely to use US facilities to store oil reserves
India proposes to re-evaluate its plan to store its strategic oil reserves in facilities available in the US as the country looks to bolster domestic storage that is considered a safer and better option to deal with excess price volatility and supply disruptions India unlikely to use US facilities to store oil reservesNew Delhi: India […]
Colombia’s Ecopetrol says oil theft from pipelines rose 46% last year
On average, 2,638 barrels per day of oil were stolen last year, up from 1,806 bpd in 2019, the spokesman said. The theft represents a fraction of Ecopetrol’s production, which stood at 725,000 bpd in 2019 Colombia’s Ecopetrol says oil theft from pipelines rose 46% last yearBOGOTA: Theft of crude oil from pipelines operated by […]
Kenya seeks funding to build pipeline, oil storage facilities
Kenya is seeking funds to build pipeline and oil storage facilities to fast-track the commercialization of its crude oil. Mining and Petroleum Cabinet Secretary John Munyes revealed that the country is seeking US $5 billion funding to develop and expand fuel facilities from Lokichar basin in northwest Kenya to Coastal region through public-private partnership. Lack […]
Oil Storage Market To Witness Appreciable Gains With 5.3% CAGR By 2027
According to new report available with Million Insights, the global oil storage industry report on is foretold to provide a robust support for market players to lay a solid foundation for their business growth. It includes a comprehensive evaluation of the market’s growth status and market risk. The global oil storage market size is projected to account […]
The Pandemic Could Lead To A Major Oil Supply Crunch
It may be counterintuitive to say that the oil demand crash and the resulting glut in 2020 could lead to an oil supply crunch in just a few years. Yet, a growing number of experts and international agencies warn that the world could be headed for an oil shortage when oil demand finally recovers from […]
Joanna Hajnaj
The inspiration to work in the tank storage sector came through a flurry of global climate issues and challenges that have been around in the energy storage industry for decades. Environmental damage has propagated exponentially within the last few decades, and increased environmental regulations pushing to reduce emissions within the global energy storage sector has […]
Reganosa to operate Tema LNG in Ghana
Spanish LNG company Reganosa has been awarded the contract to operate and maintain the 1.7 million tpa Tema LNG terminal in Tema, Ghana, which has just taken delivery of its new floating regasification unit (FRU). The terminal, which is currently under construction, will be the first offshore LNG receiving terminal in sub-Saharan Africa. Tema LNG […]
Half of South Africa’s oil refining capacity offline until 2022
South African plants owned by Glencore and Petroliam Nasional that make up 43 percent of the nation’s oil-refining capacity, are expected to stay shut until at least 2022, according to energy consultant Citac. Astron Energy, a unit of Glencore, has yet to restart the 100,000 barrel-a-day Cape Town refinery after a deadly explosion and fire […]
Jurong Port said to be in talks for oil storage hub stake
Government-owned Jurong Port is in advanced talks to buy a stake in a petroleum storage hub from the family behind collapsed oil trader Hin Leong Trading, according to people with knowledge of the situation. The deal is for the roughly 40 per cent stake in Universal Terminal held by the family of Lim Oon Kuin, […]
BPGIC Signs Two New Oil Storage Contracts for its Phase I Facility at 60% Premium
NEW YORK, Dec. 16, 2020 (GLOBE NEWSWIRE) — Brooge Energy Ltd. (“Brooge Energy” or the “Company”) (NASDAQ: BROG), a midstream oil storage and service provider strategically located outside the Strait of Hormuz, adjacent to the Port of Fujairah in the United Arab Emirates (“UAE”) through its wholly-owned subsidiary Brooge Petroleum and Gas Investment Company FZE […]
Abandoned oil storage tank catches fire
The Sharjah Civil Defence teams manged to bring under control a fire that erupted in an abandoned oil storage warehouse in Al Sajaa on Wednesday morning. According to an official source, the operations room at Sharjah Directorate of Civil Defence received a report at 8:35am that a fire broke out in Al Sajaa Industrial Area. […]
Floating Oil Storage Shrinks Amid Robust Asian Demand
Global floating oil storage declined at a fast pace in December as traders sold crude held on tankers in the absence of price incentives to store it and in order to meet peak winter demand in Asia, analysts and sources at trading firms told Reuters. The Brent futures curve has returned to backwardation, the state […]
Fortisbc launches project to double LNG loading capacity at Tilbury
FortisBC Energy Inc. is proceeding with a new project at its Tilbury Liquefied Natural Gas (LNG) facility in Delta, British Columbia. The Tilbury Truck Loading Expansion project will involve the construction of two new loading bays to double the facility’s capacity to provide customers with LNG. FortisBC’s Tilbury LNG facility has been operating since […]
Blueknight announces US$162 million sale of crude oil business
Blueknight Energy Partners LP (Blueknight) has announced that it has entered into multiple definitive agreements to sell its crude oil terminalling, pipeline, and trucking business segments for approximately US$162 million in total cash consideration, including estimated crude oil linefill and inventory. Net proceeds, after transaction costs, will be used initially to reduce borrowings outstanding under […]
The diesel bug
The introduction of biofuels marked a milestone reduction in the reliance on fossil fuels. In sustainability terms, the benefits of biofuels are clear – but inherent issues of microbial contamination and tank corrosion could significantly harm the health of fuel storage facilities. This article reveals the real impact of biofuels on storage tank stability and […]
Shell invests in waste to low carbon fuels plant in Québec
Shell Canada has announced the signing of commercial agreements to invest in Varennes Carbon Recycling, the first waste to low-carbon fuels plant in Québec, Canada. Shell will have a 40% interest in the plant using technology developed by Enerkem, a leading Canadian clean tech company. Enerkem announced the project in December 2020, subject to finalisation […]
Gulf Oil buys Ocean Tankers’ Singapore assets
Gulf Oil International has bought Ocean Tankers’ lubricant blending plant, storage tank farm, terminal facilities and wharf access in Tuas Port in Singapore. Gulf Oil, which is part of the Hinduja Group, will operate the site as a going concern. Ocean Tankers was placed under interim judicial management by the courts earlier this year, along […]
KN concludes UAB Elektrėnų Energetikos Remontas agreement for tank adaption
KN (AB Klaipėdos Nafta), the oil and liquefied natural gas (LNG) terminal operator, said it concluded an agreement with UAB Elektrėnų Energetikos Remontas on the reconstruction and adaptation of two storage tanks for bitumen loading. The agreement is valued at EUR 2.1 million and is scheduled for completion in the second half of 2021. It […]
The OPEC+ mission to balance oil markets is just getting started
Despite the OPEC+ decision to ease output cuts, oil prices have rallied over the past couple of weeks, supported by vaccine news and the start of vaccination campaigns across the world. Although the OPEC+ decision is seen as a compromise among the major group producers, the group has clearly realized that their decision is also […]
Why the world might not have enough oil to meet demand through 2050
The world is on track to run out of sufficient oil supplies to meet its needs through 2050, despite lower future demand due to the Covid-19 pandemic and the accelerating energy transition – unless exploration speeds up significantly and capital expenditure of at least $3 trillion is put to the task, a bombshell report by […]
Clariant catalyst sets production record at Baofeng Energy’s methanol plant
Clariant’s methanol synthesis catalyst, MegaMax 800, has demonstrated its performance at the methanol synthesis plant in the by-produced coke oven gas to olefin project of Ningxia Baofeng Energy Group Co. Ltd. The 1.5 million tpy methanol unit was loaded for the first time with the MegaMax 800 catalyst in June 2018. The excellent catalytical performance […]
Gulf Oil International reaches an agreement to acquire Ocean Tankers Assets
Gulf Oil International has reached an agreement to acquire the lubricant blending plant with wharf access, storage tank farm and terminal facility from Ocean Tankers Ltd, located in the Tuas region of Singapore. The facility will be acquired and continue to operate as a going concern. Mike Jones, CEO of Gulf Oil International, said: “This […]
Major fire at Magellan Corpus Christi injures seven
Seven men have been injured following a major fire at Magellan Midstream Partners terminal in Corpus Christi, Texas, US, on 5 December 2020, four of them critically. Corpus Christi deputy fire chief Richie Quintero told a news conference streamed online that the Corpus Christi Fire Department received the first emergency call shortly before 10am local […]
Quick Fire round with Borsig GmbH
How long have you been in the bulk liquid storage industry? Our experience with bulk liquid storage started in second half of the 80’s. That is focused on our VRU activity only. Biggest change you have seen in the bulk liquid storage industry at this time? Highest flexibility for products is needed Product specification are […]
Xiling “Tess” Zhou
“I “discovered” the tank storage industry by chance. After living and working in the United States for 16 years, UK for 2 years, I moved to Belgium around 10 years ago. Before Belgium, I spent my professional career mainly in international technology companies, where I enjoyed immensely working with cross functional teams of all genders, […]
Jen Penner
“My career in the oil and gas industry began with a downstream oil producer in the asphalt terminals division. With this position I was exposed to a variety of roles in operations, quality control, technical research, engineering, and projects. Through my experiences in the oil and gas industry, I found the storage tank aspect was […]
Exhibitor input: Automated construction of stainless-steel tanks
B&P Engineering Launch of the most technologically advanced production line in Europe to conduct automated construction of stainless-steel tanks and evaporation stations. We launched production on the new hall with an area of 5200 m2, equipped with the most technologically advanced production line in Europe designed to conduct automated construction of stainless-steel tanks and falling […]
Lagos begins clampdown on tank farm operators without license this week
Sequel to the proliferation of illegal terminal operators across Nigeria, the Lagos State Government said it would shut down all illegal tank farm operators in the state this week. Vanguard gathered that the move was necessitated, following constant fire outbreaks in oil facilities in the state along with subsequent fire incident averted by the state’s […]
Riverstone to purchase International-Matex Tank Terminals
$2.685 billion acquisition from Macquarie Infrastructure Corporation includes 19 terminals, 48 million barrels of storage. Riverstone Holdings recently agreed to buy International-Matex Tank Terminals (IMTT) from Macquarie Infrastructure Corporation for a total consideration of $2.685 billion. Established in 1939, IMTT is an industry leader in the storage and handling of bulk liquid products that are used in energy, industrial, consumer and […]
COVID Forces Exxon To Slash Oil Price Forecast
COVID Forces Exxon To Slash Oil Price Forecast COVID Forces Exxon To Slash Oil Price Forecast In the wake of the pandemic, ExxonMobil has significantly lowered its expectations about oil prices for the next seven years, expecting Brent Crude to average between $50 and $55 a barrel until 2025, The Wall Street Journal reported on […]
Houthi attack on Saudi Aramco plant damages oil tank
Yemen’s Iran-backed Houthi rebels fired a Quds-2 missile at Aramco’s North Jeddah plant, later confirmed by Saudi authorities. Saudi Aramco has said that a strike by Yemen’s Houthi rebels on its plant in Jeddah tore a hole in an oil tank, triggering an explosion and fire that was quickly extinguished. Aramco has said its domestic […]
America’s Biggest Oil Storage Hub Is Filling to the Brim Again
Oil tanks in America’s most important crude storage hub are filling to the brim once again, quickly approaching the critical levels reached in May after prices crashed. Stockpiles at Cushing, Oklahoma, the delivery point for West Texas Intermediate futures, stood at 61.6 million barrels as of Nov. 13, or about 81% of capacity, according to the […]
Techno Oil unveils automated LPG terminal in Nigeria
Techno Lagos Oil Ltd (Techno Oil) has unveiled its new automated liquefied petroleum gas (LPG) terminal at Kikiri in Apapa, Lagos, Nigeria. The new terminal is expected to generate up to 2000 jobs and unlock Nigeria’s 187 trillion ft3 gas reserve, which has remained largely untapped to date. The terminal, which has the capacity to […]
$1.35 billion LNG retail push as India aims to reduce diesel use
Indian companies will spend $1.35 billion over three years on 1,000 liquefied natural gas (LNG) stations along main roads and industrial corridors and in mining areas to cut diesel consumption, according to oil minister Dharmendra Pradhan. Pradhan said: “Even if the LNG vehicle segment achieves 10 percent market share in a fleet of 10 million […]
Adler & Allan bought by an affiliate of sun european partners LLP
A Sun European Partners LLP affiliate has agreed to acquire Adler & Allan, a leading UK environmental risk reduction specialist, from funds managed by LDC, for an undisclosed sum. Paul Daccus, managing director of private equity firm Sun European Partners, said: “Business services continues to be a key area of focus for Sun European, and […]
Quick Fire round with Alec Keeler, Carbis Loadtec
How long have you been in the bulk liquid storage industry? As a company 2021 will be our 24th year. Personally this will be my 40th year. Biggest change you have seen in the bulk liquid storage industry at this time? Increased focus on safety for operators and prevention of falls from height. The industry […]
StocExpo announces new Women in Tanks initiative
StocExpo, the world’s leading bulk liquid storage event has announced its next new focal point for the 2021 event in Antwerp – Women in Tanks – to highlight the women working in the tank storage sector. To secure the future success of the tank storage sector, the industry needs to attract the right people and […]
Will The UAE Withdraw From OPEC?
OPEC has suffered immensely under the pandemic and subsequent oil demand loss, and its job could now become significantly more challenging as members mull the pros of staying with the group against the con of performing the dutiful and painful task of curbing production. And the UAE is said to be doing just that. Meanwhile, oil […]
Ergon expands Antwerp terminal
Speciality oil distributor Ergon International, part of US firm Ergon Refining, has added three new storage tanks to its terminal in Antwerp, Belgium. The new tanks have a total capacity of 9,000 m3, and take the terminal’s capacity to 39,000 m3, the equivalent of 36,650 tonnes. Ergon International markets and distributes insulating, base and process […]
TechnipFMC receives notice to proceed with US$1 billion contract for LNG facility
TechnipFMC has received a notice to proceed for an engineering, procurement and construction (EPC) contract worth over US$1 billion by Sempra LNG and Infraestructura Energética Nova, S.A.B. de C.V. (IEnova) at their Energía Costa Azul (ECA) LNG facility in Baja California, Mexico. The project will add an LNG facility with a nameplate capacity of 3.25 […]
Oil & Gas working together for net zero future theme for SPE Offshore
Working together to deliver a decarbonised, net zero future will form the theme and direction for SPE Offshore Europe 2021 being held in Aberdeen, Scotland, 7-10 September 2021. Neil Saunders, conference chair of SPE Offshore Europe 2021 and executive vice president of oilfield equipment at Baker Hughes, is leading the 30-strong committee that has developed […]
Why Iraq Isn’t Producing 10 Million Barrels Per Day Yet
Despite its huge oil resources, Iraq’s practical readiness to hit its 7 million barrels per day (bpf) oil production target (by 2025) came into question again last week, with statements from the developers of two of its major fields – BP in Rumaila, and Japan Petroleum Exploration (Japex) in Gharraf – that achieving higher output […]
Mersey bulk liquid specialist offers clients real time data
Based at the Port of Liverpool, UM Terminals operates eight bulk liquids storage terminals across the UK and has implemented the latest technology to keep customers updated 24/7. Leading UK bulk liquid storage specialist UM Terminals is now offering its clients 24/7 real-time data to its clients following an investment in the latest technology. Based […]
IEA: permanent oil refinery closures accelerating
As reported by Reuters, permanent refining capacity closures expected for 2020 – 2021 have risen to about 1.7 million bpd as the COVID-19 pandemic hammers demand for oil products, the International Energy Agency (IEA) said on Thursday.About a dozen refinery closures have been announced in the past few months, the IEA said, with the bulk […]
Cargill expands biodiesel production in North Sea Port with ground-breaking project
North Sea Port attracts more green investment. Cargill is pumping more than 125 million euros into the construction of a new factory at its Ghent site. It will use innovative technology to produce biodiesel from waste and residues. This represents a first in Europe. North Sea Port is increasingly focusing on the circular economy and […]
Welcome to the team, Bruna!
What was your first week like? My first week was awesome, I could not feel more welcomed! I am very happy that I got to meet the team in person before the lockdown and had the opportunity to acquire an overall knowledge about Easyfairs different departments. It was a lot of information to take in […]