Hiring in Tech Today: The Role of Gender and Racial Bias in 2020
Source: Website Planet – Sharon Hurley Hall If you’re a Caucasian male, you’ve won the lottery when it comes to getting hired in tech, or so it seems. According to tech diversity reports, in the biggest tech companies, men represent between 77% and 88% of the workforce, and Caucasians between 40% and 51%. Those figures seem […]
PRIO inaugurates €11 million tank farm expansion
Portuguese biofuel producer PRIO has inaugurated an €11 million expansion of its liquid bulk terminal in Aveiro, Portugal. The expansion work took the gasoline storage capacity at the facility from 10,000 m3 to 26,000 m3, the equivalent of around 26 million L, and increased the diesel storage capacity by 4,000 m3. The first delivery of […]
INEOS pledges to beat EU climate targets in Antwerp
UK chemical company INEOS has pledged to stay ahead of EU climate and energy targets at its businesses in Antwerp, Belgium. The company says that all its sites in Antwerp, including the Project ONE cracker and propane dehydrogenation unit, will be climate-neutral by 2050 at the latest. The EU wants greenhouse gas emissions to be 55% below […]
GlobalData: Asia to spearhead global liquids storage capacity additions through 2024
According to GlobalData, Asia is expected to witness the highest global liquids storage capacity additions, contributing around 46% by 2024. GlobalData’s report, ‘Global Capacity and Capital Expenditure Outlook for Liquids Storage, 2020-2024 – Asia Spearheads Global Liquids Storage Capacity Growth’, reveals that Asia is likely to witness a total liquids storage capacity additions of 321 […]
ExxonMobil and GE launch advanced co-branded turbine oil
ExxonMobil and GE today announced the launch of Mobil SHCTM 918 EE gas turbine oil, a new technology that may dramatically improve turbine bearing efficiency by up to 15 percent compared to conventional ISO VG 32 turbine oils. Designed for use in multi shaft 7HA, 9HA, 6FA.01 and 7FA GE gas turbines, this technology can […]
Neste to acquire Bunge facility
Neste, a leading producer of renewable diesel and sustainable aviation fuel made from waste and residue raw materials, recently agreed to acquire Bunge Loders Croklaan’s refinery plant in Rotterdam, Netherlands for 258 million euros ($303 million). The refinery plant is located next to Neste’s existing biorefinery and consists of a pretreatment facility, tank farm, jetties […]
Oil Optimism Returns On Fresh Vaccine News
Oil prices reacted positively to the news of a Pfizer vaccine that is reportedly 90% effective for the coronavirus. Energy-related CO2 emissions in the U.S. declined by 3% in 2019, after rising by 3% the year before. The decline was largely due to the evolving mix of electricity generation Emissions from coal plunged by […]
Matrix Service Company Just Missed Earnings; Here’s What Analysts Are Forecasting Now
Investors in Matrix Service Company (NASDAQ:MTRX) had a good week, as its shares rose 9.9% to close at US$8.35 following the release of its first-quarter results. It looks like a pretty bad result, given that revenues fell 20% short of analyst estimates at US$183m, and the company reported a statutory loss of US$0.12 per share instead of […]
An Oil Market Recovery Is On The Horizon
The major participants at ADIPEC 2020’s ADNOC Trading Forum expressed a wide range of sentiment, but the general message was one of caution or even outright pessimism when it came to oil price movements. The Virtual Conference, which was held in Abu Dhabi, was dominated by three main topics, the impact of COVID-19, global oil […]
Dutch oil storage firm Vopak accelerates investments in 2020
The group, which operates tank terminals around the world, now expects its capex to be in the range of 500 million to 600 million euros Dutch oil and chemical storage company Vopak said on Friday it would accelerate its investments in the reminder of the year to expand its terminal portfolio. The group, which operates […]
Fire strikes Oando tank farm in Lagos
The Oando tank farm, at Gaskiya Road, Ijora Badia, is the site of the blaze, Lasema said. The agency was not able to immediately determine the cause of the fire. Lasema said its responders plus Federal Fire, LASG Fire, Nigerian Navy Fire, Nigerian Police and Forte Oil Fire Service were “currently battling the inferno to […]
Times are changing
Dr Elodie Zausa talks to Tank Storage Magazine about attitudes to women in the tank industry Dr Elodie Zausa works for French petroleum storage company Géosel, in business development for storage. On a day-to-day basis, she works with existing and new customers, including traders and refiners, to sell storage and transport capacity for crude oil […]
Bonita Botha
Please share some background on yourself and how the business started? I grew up at Malvern Childrens Home in Queensburgh, Durban. After I matriculated from Werda High School I left the home and rented an outside room. I started working and studying part-time for a B. Com Accounting through Unisa. I got an opportunity to […]
Oil forecasts uncertain as Europe locks down again
Last time Europe started shutting down, the oil price tanked. Not long after, futures contracts in the US reached negative territory due to a lack of storage space, and producer earnings crashed. Conditions are not as dire as in March and investors are now much more cautious about oil, but the actual risks are similar. Of course, the […]
Remove oil storage facility in ecologically sensitive coastal area, says green tribunal
The National Green Tribunal has ordered the removal of an oil storage facility in Chennai, highlighting that environmental laws were wrongly interpreted. The oil storage facility, which was violating coastal zone rules, was given clearance by the central government’s environment ministry. The project had got post-facto clearance from the Union Ministry of Environment, Forest and […]
Oil Prices Plunge 5% As Demand Fears Intensify
Oil prices plummeted early on Wednesday, with Brent falling below $40 a barrel, dragged down by estimates of a surge in U.S. inventories and the surge in coronavirus cases in the United States and Europe. As of 9:44 a.m. EDT on Wednesday, before the EIA inventory report, WTI Crude was down by 5.66 percent at $37.33, and Brent […]
Lawmakers Probe N1.8bn Oil Terminal Contract
The House of Representatives has set up an enquiry into alleged irregularities in the oil Terminal Contract sum of N1. 8billion. Chairman, House Committee on Public Accounts, Rep. Woke Oke disclosed this during the investigative hearing into the execution of over N1.8 billion oil terminal standardized celibacy and measurement contract. Oke who said the inquest […]
ADNOC seeks Indian companies for petrochemical expansion plans
The Abu Dhabi National Oil Company (ADNOC), a UAE-based energy producer, is looking for Indian companies for partnership in its USD 45 billion downstream petrochemical expansion plans. ADNOC has sought opportunities to strengthen the UAE-India energy relationships. The company has launched an ambitious plan to expand its chemicals, petrochemicals, derivatives and industrial base in Abu […]
Brooge Energy Ltd commences preconstruction work on phase III oil storage facility
Brooge Energy Ltd has announced the beginning of preconstruction work for its phase III oil storage terminals and refinery, which will be located outside the Strait of Hormuz, adjacent to the Port of Fujairah, UAE. The preconstruction work includes the commencement of the Soil Investigation and the Environmental Impact Assessment (EIA) report. These are major […]
Improving diversity and inclusion within the tank storage sector
Cyberhawk has announced that it has secured a five-year contract with a global LNG producer for the provision of drone inspection, surveying and data visualisation services. The contract will see Cyberhawk focus on collecting engineering-grade inspection data from oil and gas assets in the Middle East, onshore and offshore, which will be delivered as detailed […]
Improving diversity and inclusion within the tank storage sector
Diversity and inclusion are buzzwords that seem to be everywhere at the moment. But in a world where differences, at least by many people, are now being celebrated, is the tank storage sector doing enough to encourage people of colour, or women, or people with disabilities, or members of the LGBTQ+ community to join the […]
StocExpo unveils new Emergency Planning & Response Zone for 2021
StocExpo has announced a new focal point for the 2021 event in Antwerp – the Emergency Planning & Response Zone (EPR) – to help ensure terminals are prepared for any potential disaster or emergency. There are a whole range of dangers that can pose a threat to storage terminals, including terrorism, lightning, fire, cybersecurity breaches, […]
Total delivers its first ever carbon neutral LNG cargo in new milestone
The loading operation was carried out at the Ichthys liquefaction plant in Australia, and the shipment was delivered on 29 September to the Dapeng terminal, China. Laurent Vivier, president for Gas at Total, said: “The development of LNG is essential to meet the growth in global demand for energy while reducing the carbon intensity of […]
FGV adds 15 new vegetable oil tanks in Malaysia
Malaysian company FGV has completed six new vegetable oil storage tanks in Malaysia and is building nine more as it seeks to fulfil the Malaysian government’s biodiesel mandate and meet growing demand. FGV’s bulking and storage subsidiary FGV Johor Bulkers (FJB), which currently handles 25% of Malaysia’s palm oil exports, has completed four tanks with […]
China’s oil imports are falling as storage fills up
China, which has been on an oil-buying binge since the start of the pandemic, is now retreating as storage space fills up and demand for fuels in the regions it exports them to remains weak.In the final quarter of the year, Chinese crude oil imports could shed 14.5 percent from the third-quarter levels, equal to […]
Dekun Energy opens crude oil storage warehouse
As reported by Reuters, Dekun Energy, a subsidiary of Shandong Huaxin Industry and Trade Group, has opened a crude oil storage warehouse with a total storage capacity of 2 million m3 in the eastern Chinese port city of Rizhao.The new warehouse will add to Huaxin’s current storage capacity of 2.2 million m3, making it the […]
Croatia’s Janaf signs oil storage deal with Sweden’s Litasco
ZAGREB (Croatia), October 20 (SeeNews) – Croatia’s state-controlled oil pipeline operator Jadranski Naftovod (Janaf) [ZSE:JNAF-R-A] said on Tuesday it signed an oil storage deal with Swiss company Litasco. The deal is valid for the period from November 1 until April 30, 2021, as the oil will be stored at Janaf’s Omisalj terminal, the Croatian company […]
VTTV plans €150 million expansion work in Cyprus
Cypriot company VTT Vasiliko (VTTV), a subsidiary of Dutch energy trader VTTI, is planning to expand its storage terminal at Vasiliko in Cyprus with two projects costing €150 million, according to reports. VTTV CEO George Papanastasiou told the Financial Mirror that the existing jetty can be adapted for Cyprus’ upcoming floating storage and regasification unit (FSRU). At the […]
Total delivers its first ever carbon neutral LNG cargo in new milestone
Total has completed its first shipment of carbon neutral LNG with the Chinese National Offshore Oil Corporation CNOOC, (a longstanding partner of Total). It said: “This first LNG shipment, whose carbon emissions have been offset throughout the value chain, represents a new step as we seek to support our customers towards carbon neutrality” The loading […]
JANAF and Litasco sign crude storage deal
Croatian company Jadranski naftovod (JANAF) and Swiss trader LUKOIL International Trading and Supply Company (Litasco) have signed a new crude oil storage contract for JANAF’s Omišalj terminal. The storage contract runs from 1 November 2020 to 30 April 2021. The Omišalj Terminal is located on the island of Krk, near the town of Omišalj on […]
Why Saudi Arabia May Be Forced To Start Another Oil Price War
The ongoing weakness of global oil markets seems to be stoking tensions within OPEC+, and a split within its leadership is now imminent. From the start of this year’s Moscow-Riyadh brokered OPEC+ production cut deal, internal differences have been kept at bay by a global pandemic and high crude oil storage volume. Market optimism now […]
Colonial Premier Terminals acquires three terminals
Colonial Terminals Operating Co. LLC – a subsidiary of Colonial Enterprises Inc. (Colonial) and an affiliate of Colonial Pipeline Co. – has completed the acquisition of three refined product terminals from Lincoln Terminal Co., Inc. (Lincoln), a products and biofuels marketing and logistics company. The new business will operate under the brand name Colonial Premier […]
Oil slips as new lockdown measures threaten demand recovery
Oil prices fell on Thursday as new restrictions to stem a surge in COVID-19 infections have increased uncertainty over the outlook for economic growth and a recovery in fuel demand. Brent crude futures dropped $1.48, or 3.44%, to trade at $41.83 per barrel, while West Texas Intermediate crude futures were down $1.49, or 3.63%, to […]
India allows UAE’s ADNOC to export oil from strategic reserve
NEW DELHI (Reuters) – The Indian cabinet on Wednesday allowed Abu Dhabi National Oil Co (ADNOC)to export oil from its Mangalore strategic petroleum reserve (SPR), a minister said, marking a policy shift that could enhance foreign participation as India seeks to expand its storage capacity. Allowing ADNOC to export its oil mirrors a model adopted […]
Qatar’s growing fuel consumption calls for additional storage facilities, investments
Qatar is a promising country and on the path to a prosperous future, as it is pumping into the local market through QP and through Woqod, various fuels to meet the daily local consumption needs of various types of vehicles and diesel engines that serve the industrial sector, homes and commercial businesses. Our network of […]
Total enters offshore wind sector in France
Total becomes a 20 per cent shareholder in the Eolmed floating wind farm pilot project, located in the Mediterranean, off the coast of Gruissan in France. Attributed in July 2016, this 30 megawatts (MW) project will accelerate the development of a floating wind technology. Together with Qair, the historical developer and majority shareholder of the […]
Exxon Contract Worth at Least $500MM to TechnipFMC
TechnipFMC (NYSE: FTI) reported Thursday that it has won a large subsea contract from a unit of Exxon Mobil Corp. (NYSE: XOM) ranging in value from $500 million to $1 billion. Under the terms of the award from Esso Exploration and Production Guyana Limited (EEPGE), TechnipFMC will manufacture and deliver the subsea production system for […]
Oil slumps with rising U.S. supplies adding to demand worries
Oil declined after a U.S. government report showed an expansion in crude stockpiles during a time when fiscal relief from Washington remains up in the air. Futures in New York dropped 1.8% on Wednesday. U.S. crude stockpiles increased 501,000 barrels last week, while supplies at the nation’s biggest storage hub at Cushing, Oklahoma, climbed to […]
Opec expects global oil demand to rebound by 2025
Opec expects global oil demand to rebound higher than before the pandemic, reaching 103.7 million barrels per day by 2025, as countries accelerate efforts to revive economies, the group said in its annual oil outlook. Incremental increase in oil demand growth will remain “relatively high” between 2022 and 2023 at 2.1m bpd and 1.5m bpd, […]
Prax Group acquires Total Oil Terminal in Zeebrugge
Harvest Energy Marine, a member of the Prax Group of companies, has announced that it has acquired the Total Zeebrugge Depot in Belgium. The facility will be re-branded as Prax Terminals Belgium, with Harvest Energy Marine managing all bunkering and commercial operations performed at the terminal. With a 20 000 m3 capacity, the Prax Group will […]
Oiltanking commissions Europe’s largest butane tank
Oiltanking Antwerp Gas Terminal (OTAGT) has commissioned the largest butane storage tank in Europe, with a capacity of 135,000 m3. The fully refrigerated, double containment tank has a diameter of 87 m and a height of 59 m, and doubles OTATG’s storage capacity. It will store butane for INEOS. Oiltanking bought the OTAGT in 2016 […]
Shell Harbor Island terminal spills 6,800 gallons of gasoline
A pump failure at Shell’s Harbor Island Petroleum Terminal in Seattle, US, has resulted in a spill of around 6,800 gallons (26,000 L) of gasoline. The spill occurred at around 4.45am local time on 1 October 2020. According to the US Coast Guard, the tank feeding the pump that failed had contained 160,749 gallons of […]
Rolls-Royce to deliver gas power plant for Dhamra LNG regasification terminal
Rolls-Royce has signed a contract with Dhamra LNG Terminal Pvt. Ltd. (DLTPL) for the complete Engineering, Procurement and Construction (EPC) delivery of a 29 MW gas-based power plant for an Indian LNG terminal. DLTPL is a joint venture between Indian multinational conglomerate Adani Group and French energy major Total S.A, located on the eastern coast […]
Croatia’s Janaf signs several oil transport, storage deals
ZAGREB (Croatia), September 24 (SeeNews) – Croatia’s state-controlled oil pipeline operator Jadranski Naftovod (Janaf) [ZSE:JNAF-R-A] signed several contracts for oil transportation and storage that will ensure a high rate of utilisation of its operational capacities in the coming period, it said on Thursday. The company is continuing to conduct business as usual, and is regularly […]
Decaying Yemen Oil Tanker at Risk of Spilling Into Red Sea
A rusting oil-storage vessel moored off Yemen’s Red Sea coast could rupture or explode, Western officials said Friday, warning of an environmental and humanitarian catastrophe if it breaks apart. The FSO Safer—which holds more than 1.1 million barrels of oil, four times the 1989 spill from the Exxon Valdez in Alaska—is located near the port […]
Oil slumps with rising U.S. supplies adding to demand worries
Oil declined after a U.S. government report showed an expansion in crude stockpiles during a time when fiscal relief from Washington remains up in the air. Futures in New York dropped 1.8% on Wednesday. U.S. crude stockpiles increased 501,000 barrels last week, while supplies at the nation’s biggest storage hub at Cushing, Oklahoma, climbed to […]
Third Coast Midstream sells Cushing crude oil storage business
Third Coast Midstream, LLC has announced that a subsidiary has completed the sale of its Cushing, Oklahoma, US, crude oil storage business (AMID Crude Oil Storage) to HCS Holdings, LLC, an affiliate of Hartree Partners, LP.AMID Crude Oil Storage consists of five crude oil storage tanks with approximately 3 million bbl of storage capacity. “Third […]
Hurricane Laura damaged oil storage site, but no shortages expected
NEW ORLEANS — Hurricane Laura caused significant damage at a site holding about 30% of the nation’s store of emergency crude oil, but three other sites still have plenty of petroleum, U.S. Energy Secretary Dan Brouillette said Wednesday. The damaged Strategic Petroleum Reserve site in West Hackberry, Louisiana, holds nearly 8.2 billion gallons of crude […]
Floating Storage Begins To Fill Up As Oil Demand Wavers
Huge floating oil storage builds earlier this year became a major cause for oil price falls as the pandemic wiped out demand. Then, as OPEC+ started cutting production and countries began emerging from lockdowns, floating storage inventories began to decline, boosting prices. Now, they’re creeping up again–but this time, it’s fuel inventories. Commodity major Trafigura […]
TechnipFMC wins ‘significant’ contract to cut emissions at Shell Moerdijk plant
The value of the deal has not been disclosed but the energy services giant said it ranged between $75m – $250million. TechnipFMC was awarded the engineering, procurement and module fabrication (EPF) work for equipment and related services for eight new ethylene furnaces at the Shell Moerdijk site. The firm will replace replace older units to […]