A comprehensive guide to energy storage
Tank Storage Magazine review Anneli Teelahk from the European Association for Storage of Energy (EASE) looks at how energy storage can support the energy transition Nowadays, climate and energy issues are so strictly related that they can almost be regarded as two sides of the same coin. Energy production and consumption have a key influence […]
HollyFrontier acquires Puget Sound refinery
HollyFrontier Corp. has announced that it has entered into a definitive agreement to acquire the Puget Sound refinery, the on-site cogeneration facility and related logistics assets, from Equilon Enterprises LLC d/b/a Shell Oil Products US (Shell) for a purchase price of US$350 million, plus hydrocarbon inventory to be valued at closing with an estimated current […]
Ghana’s first LNG cargo set for end of May
Ghana expects to receive its first liquefied natural gas (LNG) cargo by the end of this month (May). The project, which is backed by Helios Investment Partners and Africa Infrastructure Investment Managers, will consist of separate regasification and storage vessels and have the capacity to import 1.7 million mt/year of LNG. Shell will supply the […]
APM Terminals looking to take role in LNG-powered Mississippi container terminal
APM Terminals has agreed to work with Plaquemines Port on the design and development of a deep water container terminal on the Mississippi river that will be powered by a combination of LNG and electricity. In a statement issued yesterday (6 May), the company said the discussions will include the ‘consideration of APM Terminals as […]
US passes emergency waiver over fuel pipeline cyber-attack
The US government issued emergency legislation on Sunday after the largest fuel pipeline in the US was hit by a ransomware cyber-attack. The Colonial Pipeline carries 2.5 million barrels a day – 45% of the East Coast’s supply of diesel, gasoline and jet fuel. It was completely knocked offline by a cyber-criminal gang on Friday […]
Shell Catalysts & Technologies forms alliance with Arbios Biotech
Shell Catalysts & Technologies (SC&T) and Arbios Biotech, a joint venture between Licella and Canfor, have formed a new global alliance aimed at utilising SC&T’s upgrading technology capability in the pursuit of a low-carbon intensity, circular-economy focused biorefinery. Arbios Biotech was formed to commercialise Licella’s Cat-HTR™ platform, a globally leading hydrothermal liquefaction (HTL) technology, for […]
Leaked EU Report Reveals Ambitious Renewables Agenda
The European Commission intends to ask EU Member States to make an additional effort to increase their share of renewable energy in the power mix, according to a leaked draft of an official document revealed by Euractiv on May 4th. Brussels wants to upgrade its current 32% renewable energy target for 2030 to at least […]
Odfjell Terminals reports improved Q1 2021 results
The terminals division of Odfjell has reported improved financial results in Q1 2021 compared to Q4 2020, despite two force majeure events. The net result contribution to Odfjell as a whole from the Terminals division was US$0.2 million, compared to a loss of US$0.6 million in Q4 2020. EBIT rose to US$1.3 million compared to […]
Exxonmobil steps up advanced recycling to help address plastic waste
By Karen McKee, President of ExxonMobil Chemical Company. To help reduce the impact of plastic waste on the environment, society will need to recycle a greater share of the products that it uses instead of permanently discarding them. ExxonMobil is pursuing three new advanced recycling initiatives in the U.S. and Europe that set in motion […]
Diversity in action in distribution
From what was once a traditionally male dominated industry, greater diversity is being seen every day within distribution companies, suppliers and trade bodies. Fuel Oil News spoke with Emily Yates, who joined Craggs Energy in 2015, about her role as a young, female fuel oil distributor. Fresh blood I joined the Craggs’ new apprenticeship scheme […]
Solving the issue of variability
Tank Storage Magazine review Alexandru Floristean, Legal & Project Manager at Hydrogen Europe’s gave a presentation at this year’s Terminal of Tomorrow online conference explaining why hydrogen is such a hot topic. ‘Achieving carbon neutrality in an efficient way will require energy storage,’ he began. Floristean explained that renewable energy production and consumption is not […]
ExxonMobil proposes Houston CCS hub
Joe Blommaert, president of ExxonMobil Low Carbon Solutions, has outlined the company’s proposal to make Houston a multi-user carbon capture and storage (CCS) hub in a new blog post. Houston is home to many large carbon emitters, including refiners, petrochemical plants and power generation facilities, as well as being close to geologic formations in the […]
Grace licenses UNIPOL PP process technology to Sinochem Hongrun Petrochemical Co. Ltd
Independent supplier of polyolefin catalyst technology and polypropylene (PP) process technology, W. R. Grace & Co., has licensed its UNIPOL® PP process technology and its UNIPOL UNIPPAC® process control software to Sinochem Hongrun Petrochemical Chemical Co. Ltd. (Sinochem Hongrun). The UNIPOL PP facility, located in Qingzhou, Weifang, Shandong, China will start up in 2022 and […]
A World Of Difference: One Year After Oil Prices Went Negative
What a difference a year makes! It might sound like a cliché, but the oil market that was turned on its head last April by a confluence of unexpected Black Swan events is trending higher alongside a rosy outlook for the U.S. economy. Along the way, the market structure for domestic and global crude oil […]
Tanzania: Sahara Doubles Oil Storage Capacity
SAHARA Tanzania Limited, one of top oil importers, has doubled its petroleum product tank farm capacity in the last five years ago. Sahara, a subsidiary of the Nigerian-based energy conglomerate – Sahara G roupannounced in Dar es Salaam that it had doubled its storage capacity to 72million litres from 36m illion litres in 2015. “Sahara […]
Is This The End Of The Covid Oil Glut?
Recovering economies and increased fuel demand have helped the enormous oil glut from this time last year to shrink to levels that could be further reduced with global oil demand expected to jump later this year. Commercial oil stocks in developed economies, where inventories are transparently reported, have plunged since the record-high surplus built during […]
China boosts crude oil storage, but higher price may deter future builds
China boosted the flow of crude oil into storage tanks in March as strong imports and domestic output exceeded an increase in the volume of fuel being processed by refiners. About 1.63 million barrels per day (bpd) of crude was directed into commercial and strategic inventories last month, up from about 920,000 bpd in the […]
UPDATE 1-Oil storage firm Vopak misses expectations for quarterly core profit
April 21 (Reuters) – Vopak on Wednesday posted a first-quarter core profit that fell short of market expectations, hurt by a weaker dollar and tight chemical markets, but the Dutch oil and chemical storage company stuck to its investment outlook. The group now expects EBITDA contributions from 2020 and 2021 growth projects to be at […]
Waga Energy to deploy its break-through landfill renewable natural gas technology in Quebec
Waga Energy, the European leader in landfill gas-to- renewable natural gas (RNG) technology, has been enlisted by The Mauricie Residual Materials Management Board (RGMRM) to deploy its innovative gas upgrading solution at the Saint-Étienne-des-Grès landfill, in Quebec The green gas produced will be purchased by Énergir, the largest gas distribution company in the province, and […]
Total and Siemens Sign Emissions Reduction Deal
Total (NYSE: TOT) and Siemens Energy have signed a technical collaboration agreement to study sustainable solutions for CO2 emissions reduction, Total revealed Tuesday. The collaboration will focus on natural gas liquefaction facilities and associated power generation, according to Total, which noted that each partner will bring together their best-in-class technologies and combine their know-how to […]
Siemens Energy launches first-of-its-kind edge transmission products to shape Internet of Energy
Siemens Energy extends its switchgear and transformer portfolio with EdgeformerTM and EdgegearTM, thus presenting the world’s first high-voltage devices with edge computing at Hannover Fair 2021. The new generation of digitally enabled transmission products and systems opens new possibilities for grid operators to benefit from data driven applications by deploying them within the local substation […]
ExxonMobil has agreed to reduce air pollution at refinery near Chicago
ExxonMobil has reached an agreement with U.S. and Illinois regulators to reduce air pollution at its refinery near Chicago in Joliet, Illinois, the U.S. Department of Justice said in a statement. The consent decree, which will require ExxonMobil to make operational changes to its sulfur recovery plant to reduce emissions, marks yet another sign that […]
Who Bombed the Saudi Oil Storage Yard at Ras Tanura?
On Sunday, a series of drone and missile attacks was launched at military and oil industry-related facilities in Saudi Arabia. Among the sites targeted was the oil storage yard at Ras Tanura, the site of the world’s largest offshore oil-loading facility. A refinery is also located in this area. A missile was launched at a […]
Coastal grades ease as Cushing oil stocks tick up
(Reuters) -U.S. Gulf Coast crude oil grades mostly eased on Thursday as the Cushing, Oklahoma oil storage hub grew, dealers said. Light Louisiana Sweet crude and Mars Sour crude, both coastal grades, eased slightly despite a wider spread between U.S. futures and international Brent oil futures. A wider spread typically makes coastal grades more attractive […]
‘Several’ fire safety violations found during probe of 2018 Pulau Busing oil storage tank fire: SCDF
SINGAPORE: The Singapore Civil Defence Force (SCDF) said it discovered “several” fire safety infringements during investigations into an intense oil storage tank fire that happened on Pulau Busing in 2018. “These comprised two breaches relating to the storage of flammable liquid in the affected tank, insufficient firefighting equipment provided and the delayed notification of the […]
There’s a Lot of Unused Oil Stored Up Around the World
The OPEC+ group of oil producers, led by Saudi Arabia and Russia, may have got inventory levels back up to where they want them, but that doesn’t mean they can take their feet off the brakes on production just yet. At their last meeting, inauspiciously held on April Fool’s Day, the group set out a path […]
New Emerson Tank Inventory Software Application Improves Operational Efficiency
Rosemount™ TankMaster™ Mobile provides immediate secure access to critical tank data to a wider range of stakeholders GOTHENBURG, Sweden (April 15, 2021) – Emerson has launched Rosemount™ TankMaster™ Mobile – the world’s first cross-platform inventory management software application for tank gauging systems – providing immediate secure access to critical tank data. By making real-time data […]
Indian Oil lets contract for Barauni refinery expansion
State-owned Indian Oil Corp. Ltd. (IOC) has let a contract to Technip Energies NV to provide engineering, procurement, construction, and commissioning (EPCC) services for new units to be installed as part of IOC’s previously announced project to increase crude oil processing capacity at its 6-million tonne/year (tpy) Barauni refinery in Begusarai District, Bihar (OGJ Online, Aug. 11, […]
Saudi Aramco CEO says oil giant can still meet dividend expectations as crown prince prioritizes investments
The chief executive of the world’s biggest oil company said Wednesday he believes it will still be able to meet dividend payout expectations after Saudi Arabia’s government announced plans to prioritize investments. Crown Prince Mohammed bin Salman on Tuesday said that state-backed oil giant Saudi Aramco and petrochemical firm SABIC will fund the majority of […]
Shell to Make First Oil Output Profit Since Pandemic
(Bloomberg) — Royal Dutch Shell Plc said it expects to make the first profit from pumping oil since the start of the pandemic. Shell’s upstream unit, which largely handles the exploration and production of crude, was able to capture “the upside from the current commodity price environment“ in the first quarter, the company said on […]
Construction of Kipevu Oil terminal in Kenya nears completion
Construction works on the new Kipevu Oil Terminal is nearing completion. The Kenya Ports Authority management made the announcement and said the project is now at 84% complete. The new Kipevu Oil Terminal is being constructed directly opposite the second container terminal at the port of Mombasa near Dongo Kundu. It will replace the current 50-year-old […]
EXPLOSION and fire rock Mexican oil refinery in Veracruz state
A fire has broken out at a Pemex oil refinery in Minatitlan, a town in the Mexican state of Veracruz. Video from the scene shows a plume of black smoke as the facility is engulfed in flames. No casualties have yet been reported.The incident occurred at the Petroleos Mexicano (Pemex) refinery, named after former Mexican […]
UAE Presents Phenomenal Plan To Boost Its Position As Oil Hub
Three key developments were announced last week by the UAE in line with its role as a principal member of the U.S.’s new Middle East strategy to counter China’s dramatically increasing influence over the region: plans for a major economic expansion; plans to attract more oil trade into new contracts; and plans to counter Iranian […]
Gastrade, NER AD, and AD ESM sign agreements for Greek LNG Terminal
Gastrade SA has announced the signing of the agreements for the co-operation of National Energy Resources (NER AD) Skopje and AD Power Plants of Northern Macedonia (AD ESM) with the Alexandroupolis LNG Terminal. The agreements were signed in Skopje, Macedonia, by the vice president of the board of directors of Gastrade, Kostis Sifnaios and the […]
Milestone for Excelerate Energy
Excelerate Energy L.P. (Excelerate) completed its 2000th commercial ship-to-ship (STS) transfer of liquefied natural gas (LNG) on 3 April 2021, at Excelerate’s Moheshkhali Floating LNG (MLNG) terminal located offshore Bangladesh in the Bay of Bengal. Using Excelerate’s floating storage regasification unit (FSRU) Excellence and a conventional LNG carrier, 144 191 m3 of LNG were transferred using the double-banked LNG transfer […]
Support for North Sea Transition Deal confirms exciting future for changing industry
The leading representative body for the UK offshore oil and gas industry has praised industry and political backing for the North Sea Transition deal published today. OGUK Chief Executive Deirdre Michie this morning attended a roundtable hosted by BEIS Energy Minister Anne Marie Trevelyan, along with senior representatives from industry and the Oil and Gas […]
ENOC plans AED 250 million digital transformation
Emirates National Oil Company (ENOC) has revealed plans to invest AED 250 million (€57.3 million) in its digital transformation strategy. ENOC Group is owned by the government of Dubai and owns and operates assets in exploration and production, supply and operations, terminals, fuel retail, aviation fuel and petroleum products. The company’s growth strategy emphasises the […]
Gunvor eyes Russian expansion, sees steady oil price
Global energy trader Gunvor Group is keen to expand its oil dealings in Russia, Chief Executive Torbjorn Tornqvist told Reuters, and sees oil prices staying rangebound over the next few months as the coronavirus pandemic weighs on demand. “We want to do more in Russia. We are getting more oil there,” Tornqvist said in an […]
Oil nations tipped for political instability if the world moves away from fossil fuels
LONDON — Algeria, Chad, Iraq and Nigeria will be among the first countries to experience political instability as oil producers feel the effects of a transition to low carbon energy production, according to a new report from risk consultancy Verisk Maplecroft. In its 2021 Political Risk Outlook, published Thursday, the firm cautioned that countries that […]
Saudi Aramco CEO says oil giant can still meet dividend expectations as crown prince prioritizes investments
The chief executive of the world’s biggest oil company said Wednesday he believes it will still be able to meet dividend payout expectations after Saudi Arabia’s government announced plans to prioritize investments. Crown Prince Mohammed bin Salman on Tuesday said that state-backed oil giant Saudi Aramco and petrochemical firm SABIC will fund the majority of […]
Exxon sees up to $800million earnings hit from Texas freeze
Exxon Mobil Corp. expects first-quarter earnings to be reduced by as much as $800 million due to the deep freeze that plunged Texas into darkness last month. Even so, the oil giant probably returned to profit after four straight losses. Rebounding oil and natural gas prices increased earnings by as much as $2.7 billion while […]
Storage tank in Jazan hit by missile in latest attack on Saudi Aramco facilities
London — A Saudi Aramco petroleum product distribution terminal in Jazan, near the border with Yemen, was hit by a projectile March 25, causing a fire in a storage tank, the Saudi energy ministry said, in the latest attack targeting its facilities. The strike occurred at 9:08 pm (1808 GMT) and caused no casualties, the ministry […]
Fujairah expects oil storage to triple by 2024 as ADNOC, other tenants expand facilities
Dubai — The Port of Fujairah, the world’s No. 3 bunkering hub, expects its oil storage capacity to triple to 12 million cu m by 2024 as Abu Dhabi National Oil Co. and other terminal operators expand their facilities, an official told S&P Global Platts on March 28. Abu Dhabi National Oil Co. is building in […]
US government has returned all the oil it stored for companies when prices crashed last year
The U.S. has returned 18.3 million barrels of oil temporarily stored in the Strategic Petroleum Reserve by energy companies that had rented space there when prices were crashing last year. Oil prices briefly turned negative last year in an unprecedented period of volatility after the economy shut down and demand dried up. On April 2, […]
China-Namibia jointly built oil storage facility handed over to Namibia’s state-owned petroleum firm
Namibia’s state-owned oil company, the National Petroleum Corporation (NAMCOR) has taken over the national oil storage facility, jointly built by Chinese and Namibian firms. The construction of the multi-billion-dollar facility commenced in January 2015, and was done by a joint venture between China Harbour Engineering Company, the Roads Contractor Company and Babyface Civils. It consists […]
Huge fire breaks out in Pertamina refinery tank
Five people were hospitalised with burns and several are thought to be missing following a colossal fire at Tank T-301 at Pertamina’s 125,000 bpd Balongan Refinery in West Java, Indonesia. The cause of the fire, which began at around 12.45am local time on 29 March 2021, is not known, although Pertamina says that the fire […]
Vopak to use Smartflow technology to digitise frontline operations
Smartflow has announced that Vopak will be using the Smartflow Connected Worker SaaS Platform to digitise its frontline operations. Royal Vopak is a leading independent tank storage company. With over 400 years of experience, Vopak is determined to develop key infrastructure solutions for the world’s changing energy systems while simultaneously investing in digitalisation and innovation. […]
Puma Energy launches new bitumen terminal in Chennai
Puma Energy’s bitumen business, Puma Bitumen, has announced the opening of its latest bitumen terminal in Chennai, India. The new terminal will produce up to 40 thousand tpy of asphalt to support infrastructure growth in the country. Located in Chennai, South East India, the terminal will provide a great strategic location for the region’s first […]
Looking beyond oil
Looking beyond oil. Earlier this month StocExpo and Tank Storage Magazine hosted their first online conference entitled: The Terminal of Tomorrow. COVID-19 has without doubt accelerated the energy transition and there was a significant amount of interest in this event – with over 720 registrations from 75 different countries. Day one featured speakers from three […]
Rising Stars of Bulk Liquid Storage Industry Found by StocExpo
The bulk liquid storage industry’s forty most dynamic professionals under the age of 40 have been found! StocExpo’s global hunt for the next generation of tank storage is now over and forty young professionals have been selected who are making a real difference to their organisations and to the wider industry thanks to their excellence […]