The skills to succeed
Bonita Botha talks to Tank Storage Magazine about the importance of professionalism and passion How many companies do you know of that are 100% owned and managed by women? And how many of those operate in the tank industry? Well, there is at least one – South Africa’s Orca Fuel Solutions. Orca manufactures fuel storage […]
North Sea Exploration Ban Impact
A potential ban on new exploration licenses in the North Sea would have limited impact on the medium- and long-term outlook. That’s according to Rystad Energy analyst Sonya Boodoo, who communicated with Rigzone after a Telegraph story reported the UK was mulling a ban on new oil exploration licenses in the North Sea and considering ending permits […]
Will the Energy Transition Pivot on Gas?
(The views and opinions expressed in this article are those of the attributed sources and do not necessarily reflect the position of Rigzone or the author.) Much of the discussion about the energy transition references renewables such as solar and wind, but one informed market-watcher tells Rigzone that a more conventional resource – natural gas […]
BP plans UK’s largest hydrogen plant in Teesside
Energy giant BP today said it aims to build Britain’s largest hydrogen plant by 2030 as part of the UK’s push to boost fuel use and cut greenhouse gas emissions. The Teesside plant in northern England will have capacity of up to 1GW of so-called blue hydrogen, a fifth of Britain’s 5GW target for the […]
EIA: OPEC+ Cuts To Lift Oil Prices Through April
Oil prices will likely remain at the current high levels in March and April, with Brent Crude prices averaging between $65 and $70 per barrel, after the OPEC+ group unexpectedly decided to maintain their production cuts into April, the U.S. Energy Information Administration (EIA) said on Wednesday. In its Short-Term Energy Outlook (STEO) for March, the EIA expects Brent […]
1 dead, 1 injured after explosion in Butte
MISSOULA, Mont. — Butte law enforcement officials are investigating an explosion that left one man dead and another man seriously injured Monday afternoon. Sheriff Ed Lester said in a news release that the explosion happened at the Silver Bow Truck and Auto Center around 4:10 p.m. The two men had been working on an oil storage […]
Vopak joins queue to build LNG import terminal in Australia
MELBOURNE: Dutch oil storage company Vopak wants to build an LNG import terminal in Australia’s Victoria state, vying with five other proposed projects to fill a looming gas supply gap in the country’s southeast. Vopak said it wants to dock a floating storage and regasification unit (FSRU) in Port Phillip Bay near Melbourne. It hopes to submit a proposal to […]
World’s largest oil importer running out of storage capacity
(Bloomberg) –China’s oil stockpiles have risen to around 100 days worth of net imports, making it increasingly challenging to find extra storage tanks and facilities to hold supplies, two people with knowledge of supply levels said. The build-up follows a push by Beijing to buy up crude for its reserves last year when prices crashed […]
Stefan Fiskal
Stefan Fiskal. Verwaltungsrat and Shareholder After finishing school with the “allgemeine Hochschulreife”, Stefan completed a commercial apprenticeship, worked as a fitter in assembly steel construction, became a technician with a focus on building physics and worked in various companies as a site manager, constructor, service manager and production manager. In 1998 Stefan started his independent […]
Grainne Mulgrew
Grainne Mulgrew, Project Manager. About Re-Gen Robotics Grainne Mulgrew is Project Manager with Re-Gen Robotics, the first and only Zone 0 EX certified, remote controlled, ‘No Man Entry’ robotic tank cleaning company, in the UK and Ireland. In response to market demand for safety and efficiency in tank cleaning, Re-Gen Robotics has developed award winning, […]
Patrick Kulsen
Patrick Kulsen. Managing Director Patrick Kulsen is managing director at Insights Global, consisting of PJK International and TankTerminals.com. He currently has the role of general manager and senior consultant. In 2006 Patrick joint PJK as the second person alongside his father Pieter Kulsen. Together with his farther he managed to grow the company to its […]
Yemen rebels claim attack on Saudi oil facility; no damage observed
DUBAI, United Arab Emirates — Yemen’s Houthi rebels said they attacked a Saudi oil facility in the port city of Jiddah on Thursday amid their campaign of drone and missile attacks on the kingdom, though satellite pictures later analyzed by The Associated Press showed no new apparent damage at the site. Saudi Arabia’s state-owned media […]
Oil optimism unwinding market’s mad dash for storage
LONDON/NEW YORK/SINGAPORE (Reuters) – When the world economy slammed on the brakes last year, there was a rush to store a wave of unwanted crude and products, but rising prices and optimism about demand is spurring a swift unwinding of storage contracts. At the end of February, the volume of refined products held on stationary […]
China’s Oil Reserves Are Close to Reaching Storage Capacity
China’s oil stockpiles have risen to around 100 days worth of net imports, making it increasingly challenging to find extra storage tanks and facilities to hold supplies, two people with knowledge of supply levels said. The build-up follows a push by Beijing to buy up crude for its reserves last year when prices crashed due to […]
Q&A with Terra Inspectioneering
Q&A with Terra Inspectioneering HOW DID TERRA GET STARTED WITH DRONES? After working for big companies in the process industry for more than 40 years, I started my own company in 2012, because I had a vision that in the new era of inspections in dangerous confined spaces, we should replace the people with robotics. […]
The oil industry is getting greener faster as U.S. policy shifts to climate change
The greening of the American oil industry has gone into overdrive. Dan Yergin, IHS Markit vice chairman, said it’s an important turning point for the fossil fuel sector, which has been anticipating big changes with President Joe Biden’s climate-focused, clean energy policies. “The oil and gas industry is calibrating itself to what has become the […]
Chinese oil majors undervalued
Analysis from investment house Bernstein suggests that the Chinese oil majors – CNOOC, Sinopec and PetroChina – offer a potential 30% upside as they trade at a wide discount to historic prices and global peers. Valuation multiples for most oil majors, as well as exploration and production players, in Asia Pacific, are back in line […]
Saudi Arabia and Russia are at loggerheads again, but OPEC meeting ‘unlikely to ruin the oil party’
LONDON — A group of some of the world’s most powerful oil producers will hold a crucial meeting on Thursday to discuss reversing some of the output cuts it made last year. OPEC and its non-OPEC partners, an energy alliance sometimes referred to as OPEC+, will convene via videoconference in a bid to reach consensus […]
Oil and gas industry welcomes Chancellors’ Budget measures to support green energy transition
The UK oil and gas industry has welcomed some of the measures announced by the Chancellor in today’s Budget, adding that now close cooperation with the sector is essential to maximise its world-leading expertise and assure a successful green energy transition. The leading representative body for the sector OGUK said the combination of taxation and […]
Nadine Herrwerth
Nadine Herrwerth Commercial Director With a business degree from Warwick Business School, Nadine applies her international experience to drive customer success by proving a keen understanding of the levers that can be game changing for organisations. Strategy development forms the basis of every successful quest and hence supporting customers’ digital transformations is what Nadine strives […]
How RBI inspections can reduce overall compliance risks & costs
How RBI inspections can reduce overall compliance risks & costs Electrical equipment in hazardous area inspection campaigns often begin with a clean slate, with little or no historical design, equipment certification and inspection information available to the inspection personnel. Inspectors head out into the field with little more than an equipment list and inspect the […]
Engel & Völkers Houston enters industrial real estate
Engel & Völkers Houston enters industrial real estate US real estate firm Engel & Völkers of Houston (E&V Houston) has expanded into the global industrial real estate market, including the vast oil and gas industrial market. E&V Houston says that no matter the size of the company, its team of strategic consultants will offer flexibility […]
LNG export company looks to salt caverns for natural gas storage in Cameron Parish
California utility giant Sempra Energy is dusting off plans for natural gas storage in salt caverns in Cameron Parish as more liquefied natural gas export terminals are built in southwest Louisiana. In 2005, Sempra had proposed retrofitting two caverns for natural gas storage under its Liberty Gas Storage project. The company proposed removing salty water […]
UAE: Fire hits Fujairah oil storage tank
Fujairah: Fujairah civil defence teams haved controlled a fire that broke out in an oil tank belonging to a recycling company in the Thawban area of Fujairah. The police operation room received a report on Tuesday at 6.06pm stating that there was a fire in one of the oil tanks. Firefighters rushed to the scene. […]
Sri Lanka cancels Indian oil storage, port deals
Sri Lanka has cancelled oil storage and port deals with India in the latest blow to Delhi’s efforts to strengthen relations with its neighbours. The Sri Lankan government said this week that it will cancel a lease on oil storage tanks in the eastern port district of Trincomalee that was awarded to India’s biggest refiner […]
Oil in floating storage at one-year low as market strengthens
London — The volume of crude oil and condensate in tankers worldwide has fallen to a one-year low as the market’s recovery gathers pace, and with a strongly backwardated structure in the Brent crude market discouraging storage. Floating storage had risen around the turn of the year due to port congestion off China and southeast […]
Argus: Oil Demand Will Not Plunge Because Of The Energy Transition
The energy transition and the growing share of electrification of transportation will not lead to a fast decline in global oil demand—any drop in consumption will be very gradual, Argus analysts said at the Argus Crude forum during the IPWeek conference on Tuesday. The trend of world oil demand will be a “tug of war” […]
Brookfield launches hostile bid to buy Canada’s Inter Pipeline
Brookfield Infrastructure Partners on Monday formally launched a hostile bid to buy Inter Pipeline Ltd with the same C$16.50-per-share offer that the Canadian oil and gas transportation company had rejected as inadequate weeks ago. Earlier this month, Brookfield said it was willing to raise its offer to as much as C$18.25 per Inter share if […]
Sanneke van der Kley
During my studies at the Technical University in Delft, I had never imagined myself working in the Oil & gas industry, nor did I know of the existence of Independent tank storage providers. In 2006, while looking for a final thesis for my Master’s degree on Systems Engineering, I had picked-up news regarding an LNG […]
Allison Newell
When I was asked to write a piece about Woman in Tanks and provide a photograph, my first thought was that I did not want to be ”Pidgeon Holed“ in the Tank Business since I felt that my career was more diverse than just tanks. I was worried that it may limit the customer base […]
Live events: it’s a kind of magic
Events companies have brilliantly kept their communities of buyers and sellers connected through online events during Covid. But while many of these events have been excellent, they are unlikely to usurp their live counterparts. That’s because face-to-face communication is richer than all other forms. There’s plenty of science to back this up. You may have […]
Vopak invests in storage capacity for waste based feedstocks in the Port of Rotterdam
Vopak is investing in the Port of Rotterdam for the storage of waste based feedstocks for the production of biofuels such as biodiesel and bio-jet-fuel. The market for energy from renewable sources in Europe is rising, also as a result of the Renewable Energy Directive II of the European Union. In total 16 new tanks […]
$100 Oil: Big Banks Believe A New Oil Supercycle Is Beginning
Some of the world’s biggest names in oil trading and analyzing can’t seem to get on the same page when it comes to predicting what will happen next for the volatile commodity. Some, like Jeffrey Currie of Goldman Sachs and Christyan Malek of JPMorgan, according to the Financial Times, are confident that oil is ready for […]
Vopak announces Vlaardingen and Qinzhou investments in 2020 results
Independent Dutch terminal operator Vopak is to build new tanks for waste-based feedstocks for biofuel in Vlaardingen in the Netherlands, and will build a new jetty at its terminal in Qinzhou, China. Vopak will build 16 new tanks with a combined capacity of 64,000 m3 at Vopak Terminal Vlaardingen in Rotterdam to store waste materials such […]
Deep freeze shuts refineries in US Gulf
As reported by Reuters, a deep freeze is continuing to wreak havoc on the US energy sector, bringing operations to a halt at the Houston Ship channel, while several of the biggest oil refineries remained offline in the nation’s largest crude-producing state. Overall, around 5.3 million customers were without power in most states including Texas and […]
Oil storage firm Vopak Q4 core profit misses market expectations
Feb 17 (Reuters) – Dutch oil and chemical storage company Vopak’s fourth-quarter core profit missed market expectations on Wednesday, due in part to a one-off negative accounting result at its associate terminal PT2SB in Malaysia. The company, which operates tank terminals around the world, reported earnings before interest, taxes, depreciation and amortisation (EBITDA) of 189 […]
Iraq in advanced talks to build oil storage in China, says oil minister
BAGHDAD (Reuters) – Iraq is in advanced talks with state-run Chinese companies to discuss building crude oil storage facilities in China as part a plan to boost oil sales to Asia, Iraq’s oil minister told Reuters. “Iraq is also discussing plans proposed by Pakistan for building crude oil storage facilities,” Iraq’s Oil Minister Ihsan Abdul […]
Sri Lanka To Re-Acquire 99 Oil Tanks Leased To Indian Oil: Minister
Sri Lanka will re-acquire the World War II-era oil storage tanks leased out to Indian Oil Corporation in the eastern port district of Trincomalee, Energy Minister Udaya Gammanpila has said.It is the second deal with India to be scrapped by Sri Lanka this year. Last month, the Sri Lankan government scrapped the trilateral deal with […]
Fujairah’s position in a volatile oil market
Fujairah has raised its profile as one of the world’s leading oil trading and bunkering hubs by building world-class terminal and port facilities. Though high oil prices over the past decade were an important factor supporting investment in new energy-related infrastructure, Fujairah has multiple competitive advantages that allow its oil-related industries to operate successfully through […]
StocExpo postponed to March 2022
London, 17 February 2021: StocExpo, the leading tank storage event, has been postponed from June 2021 to 8 – 10 March 2022 in a decision made in consultation with the community. The live exhibition, conference and associated awards, which regularly attracts key visitors and exhibitors from across the industry’s biggest, best and most innovative players, […]
Iran’s Energy Exchange: What’s the Risk?
Since US sanctions against the Iranian energy sector were launched, the Iranian government has sought more creative ways of maintaining a stake in regional and global energy markets to mitigate the economic fallout of its confrontation with the United States. This is how the Energy Commission of the Islamic Consultative Assembly arrived at the idea […]
Shell confirms oil production has peaked as it unveils ‘accelerated’ green plan
Oil and gas giant sets sights on developing science-based climate targets, as hydrogen, nature based solutions, carbon capture, utility business, and electric vehicle infrastructure all earmarked for increased investment Shell has today launched a major new green plan to ramp up investments in low carbon technologies and natural carbon capture efforts, align its decarbonisation […]
Australia loses another oil refinery, leaving our fuel supply vulnerable to regional crises
In the space of four months, Australia has lost half of its remaining oil refineries. In October, BP announced it was closing its Kwinana oil refinery in Perth and converting it into a fuel import terminal. The oil major said the refinery — Australia’s largest — was no longer economically viable. It blamed the regional […]
Opposition builds to Texas crude oil export terminal
While the nation held its breath in fear of Covid-19 and a potential Trump coup d’etat of the democratic transfer of power, Texas communities and allies were responding to an imminent threat to coastal communities, ecosystems, and global climate. From December through January Earthworks and allies scrambled to help the Brazoria County communities of Jones […]
Jurong Port tipped to take over giant oil storage facility
State-run Jurong Port is set to take over Universal Terminal, one of Singapore’s largest oil storage terminals, buying the shares held by the Lims, the family behind collapsed oil trader Hin Leong, according to a report from Reuters today. Jurong Port has appointed an interim chief executive for the terminal and has started marketing the storage space […]
SeaPort Sound proposes to demolish refinery equipment and replace it with new storage tanks
SeaPort Sound Terminal LLC (SeaPort Sound) is proposing to demolish existing refinery equipment and replace it with new storage tanks and appurtenances at the SeaPort Sound Terminal located on the Hylebos Waterway at 2628 Marine View Drive in Tacoma, Washington. The SeaPort Sound Plant Modernisation Project includes demolition of existing refinery equipment, installation of new […]
Qatar Approves World’s Largest LNG Project
Qatar Petroleum took this week the final investment decision to build what it says would be the world’s largest liquefied natural gas (LNG) project in terms of capacity, as the tiny Gulf nation and top global LNG exporter aims to raise its annual production by 40 percent by the end of 2025. Qatar Petroleum sanctioned […]
Enbridge Gas to hold binding open season for peak storage service at Dawn Hub
Enbridge Gas is holding a binding open season for peak storage services at the Dawn Hub storage facility starting as early as 01 April 2021. Shippers seeking access to flexible, customised premium storage for peaking service needs can submit bids of up to 2 BCF for a minimum term of 2 years or longer. Multiple […]
Could Oil Prices Break $100 Next Year
Oil prices could go as high as $100 a barrel next year on the back of “very easy monetary policy” and reflation trade, Amrita Sen, chief oil analyst at Energy Aspects, told Bloomberg in an interview. “It’s a futures market, we always discount stuff that’s going to happen in the future, now. That’s why prices […]
UAE: Fire hits Fujairah oil storage tank
Fujairah: Fujairah civil defence teams haved controlled a fire that broke out in an oil tank belonging to a recycling company in the Thawban area of Fujairah. The police operation room received a report on Tuesday at 6.06pm stating that there was a fire in one of the oil tanks. Firefighters rushed to the scene. […]