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Issue Contents


Volume 14, Issue 5
Published: September 11, 2018
Oil market eyes November Iran sanctions hiatus

Nnamdi Anyadike examines what effect the US withdrawing from the Iran Nuclear Deal will have on global oil markets and its impact on global trade flows

The withdrawal by President Trump’s Administration’s from the Iran Nuclear Deal, also known as the Joint Comprehensive Plan of Action (JCPOA) on May 8, has reverberated around the world.
The administration has demanded that all of Iran’s current oil consumers completely eliminate their Iranian oil imports, by no later than November 4. The US State Department director of policy planning Brian Hook said the goal is to increase pressure on the Iranian regime by ‘reducing to zero’ its revenue on crude oil sales.
But Iran is one of the ‘giants’ of OPEC. It produces close to 4.5 million barrels per day (bpd) of crude oil and according to most recent data it currently exports 2.7 million bpd of crude oil and condensates a month. So, the decision taken by Trump, much against the advice of the other parties to the Iran accord, to re-impose sanctions on Tehran was inevitably going to provide the market with a shock to its system.
Indeed, the announcement by Trump – along with earlier political instability in Venezuela – was a twin blow to the market. And the effect of this ‘double whammy’ has been a rise in crude oil prices to over $70 a barrel.

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Growing Contanda's storage footprint in Houston
As demand for petrochemical and hydrocarbon storage supports further expansion & growth, Contanda Terminals talks more about how it is growing its midstream infrastructure in Houston with two construction projects On the back of the US’ thriving petrochemical, renewables and hydrocarbon markets the storage sector – particularly along the Gulf Coast – has been enjoying a renaissance...
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Petrochemical production fuels a bright storage future
The US Gulf Coast is a hub of petrochemical activity and with production expected to increase over the coming years, the demand for storage will also benefit...
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Oil market eyes November Iran sanctions hiatus
Nnamdi Anyadike examines what effect the US withdrawing from the Iran Nuclear Deal will have on global oil markets and its impact on global trade flows The withdrawal by President Trump’s Administration’s from the Iran Nuclear Deal, also known as the Joint Comprehensive Plan of Action (JCPOA) on May 8, has reverberated around the world...
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A new name in Cushing
Getka Energy – a crude oil logistics provider backed by an initial $250 million growth capital commitment from EnCap Flatrock Midstream – has ambitious plans for its latest purchase in Cushing, Oklahoma In the tank terminal industry – location and connections matter...
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Unleashing the potential of American energy
Since President Trump released his America First Energy Plan at the beginning of 2017, the country has increased oil and gas production & has seen regulatory burdens reduced...
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Storage for the US's largest refining market
Seabrook Logistics – a joint venture by LBC Tank Terminals & Magellan Midstream Partners – is adding 700,000 barrels (111,000 m3) of crude oil & condensate storage in response to growing demand for midstream infrastructure in the Houston Gulf Coast The surge in crude oil production in the Permian Basin and other prolific regions has increased demand for crude oil storage and export capabilities in the Houston Gulf Coast hub...
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Expanding the US global market share
The steady crude oil production growth in North America has heavily incentivised operators to invest in new capacity construction...
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Trade war questions temper US midstream sector growth plans
Paul Wiseman reports on how demand for midstream infrastructure in Texas is fuelling a series of construction projects,plans to develop VLCC infrastructure and the impact looming trade wars are having on the industry With rebounded oil prices boosting production, especially in the Permian Basin of Texas and New Mexico, midstream companies from tank and pipeline providers to shipping ports are flooded with expansion opportunities...
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Safe & productive solutions for tank cleaning
Investing in vacuum truck equipment that removes wet and dry materials safely, efficiently and with the proper filtration can help increase productivity and reduce overall labour, maintenance and operating costs Vacuum trucks are widely used in tank cleaning, spill recovery and material transfer applications in petroleum refineries to recover waste materials – sludge, chemicals, hydrocarbons, water and mixtures of these chemicals – and transporting these materials offsite for disposal or recycling...
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Ground improvement plays supporting role for storage tanks
When tanks are constructed and put into service, some amount of settlement occurs...
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The RFQ - the key to a successful tank project
If you are working on a project that requires a storage tank, there are a number of factors to consider...
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