Please use a modern browser. This website is not designed for versions of Internet Explorer below IE10
masthead
masthead
awards
masthead
masthead
menu

Terminal News


Terminal News
August 6, 2018
Magellan reports higher second quarter financials
Magellan Midstream Partners has reported higher second quarter financials for 2018 compared to the same period the previous year.The company reports net income of $214.4 million for Q2 2018 compared to $210.4 million for Q2 2017.Transportation and terminals revenue for its refined products segment increased $13...

Read More

Magellan Midstream Partners has reported higher second quarter financials for 2018 compared to the same period the previous year.

The company reports net income of $214.4 million for Q2 2018 compared to $210.4 million for Q2 2017.

Transportation and terminals revenue for its refined products segment increased $13.2 million between periods driven by record shipments from strong demand for refined products in large part due to higher distillate demand in crude oil production regions served by the company.

The current period has also benefited from higher storage and other ancillary service fees along Magellan's refined products pipeline system associated with increase customer activity.

In its crude oil segment, transportation and terminals revenue increase $29.5 million primarily due to contributions from the company's condensate splitter in Corpus Christi that began commercial operations in June 2017.

In its marine storage segment, transportation and terminals revenue declined $3.6 million primarily due to lower utilisation, resulting from the timing of maintenance work and the ongoing impact of tanks damaged by Hurricane Harvey that are still under repair.

Michael Mears, CEO, says: 'Magellan continues to generate strong financial results bolstered by increased demand for our refined products and crude oil infrastructure.

'In additional to solid demand for our current services, we remain committed to developing attractive expansion projects to meet our customers' needs while generating attractive returns for our investors for years to come.'



Show Less
Terminal News
August 6, 2018
Tallgrass Energy to build Gulf Coast storage terminal
Tallgrass Energy will develop a new crude oil pipeline from Cushing, Oklahoma to the St. James, Louisiana refining complex as well as a separate new export-capable liquids terminal.The proposed Seahorse Pipeline is expected to be 30 inches in diameter and 700 miles long, with the capacity to transport up to 800,000 barrels of crude oil per day from Cushing to the Louisiana Gulf Coast...

Read More

Tallgrass Energy will develop a new crude oil pipeline from Cushing, Oklahoma to the St. James, Louisiana refining complex as well as a separate new export-capable liquids terminal.

The proposed Seahorse Pipeline is expected to be 30 inches in diameter and 700 miles long, with the capacity to transport up to 800,000 barrels of crude oil per day from Cushing to the Louisiana Gulf Coast.

It will operate as a common grade batch system that, along with Tallgrass' Pony Express Pipeline, will ensure domestic refiners and international markets have access to clean barrels from five different production basins.

The new storage terminal, Plaquemines Liquids Terminal, is a joint development project with Drexel Hamilton Infrastructure Partners and is being structured as a public-private partnership. It is expected to be fully operational in the second quarter of 2020 and is permitted for up to 20 million barrels of storage.

It will have the ability to fully load and unload post panama vessels and barges on its multiple deep-water docks. Tallgrass anticipates building a separate offshore pipeline extension that would give the terminal the added capability of loading VLCCs by the third quarter of 2021.

Tallgrass Energy president and CEO David Dehaemers says: 'The Seahorse Pipeline and Plaquemines Liquids Terminal projects build on our strategy to provide diversity of supply and greater market optionality to our customers. These projects provide highly desired take-away capacity from Cushing to the St. James refining complex, providing interconnectivity to more than 2.5 million barrels per day of refining capacity and access to international markets.'

The company expects to launch its initial open season for the pipeline on August 15, which will run for 45 days.



Show Less
Terminal News
August 2, 2018
Williams acquires midstream assets in Colorado
Williams has announced two midstream transactions for $1.173 billion that will result in its entry into Colorado's Denver-Julesburg Basin.Williams - a provider of large-scale infrastructure – and KKR plan to buy Discovery DJ Services from TPG Growth...

Read More

Williams has announced two midstream transactions for $1.173 billion that will result in its entry into Colorado's Denver-Julesburg Basin.

Williams - a provider of large-scale infrastructure – and KKR plan to buy Discovery DJ Services from TPG Growth. Discovery is a Dallas-based provider of natural gas and oil gathering and natural gas processing services in the southern portion of Colorado's DJ Basin.

When the acquisition closes, which is expected in early August, Williams and KKR will own the entirety of the Discovery midstream business through a joint venture. Williams will be the operator of Discovery.

Discovery provides midstream services to producers drilling the prolific Niobrara and Codell stacked-pay zones of the basin. The system, strategically located in Weld and Adams countries in Colorado, includes both natural gas and crude oil gathering pipelines, cryogenic gas processing, liquids handling and crude oil storage.

The assets include 60 million cubic feet per day of gas processing capacity with an additional 200 million cubic feet per day plant that is fully permitted and under construction and is expected to be in service by the end of 2018.

The Discovery assets also include 130 miles of natural gas pipeline and 260,000 acres dedicated for gas gathering and processing plus an additional 60,000 acres for oil gathering.

Alan Armstrong, president and CEO of Williams, says: 'Adding the fast-growing Discovery midstream business, including sites with permitting underway for greater than 1 bcf/d of gas processing to our portfolio, follows our strategy of connecting the best supplies to the best markets.

This is a great opportunity to expand our asset footprint into a premium-growth basin and brings the benefits of the Williams capability suite to better serve producers in the DJ Basin.

'This transaction allows Williams to take advantage of synergies between the Discovery assets and our downstream business via the DJ Lateral of Overland Pass Pipeline. We will now have the opportunity to integrate output from these acquired assets with production from our existing processing footprint in the west segment into our advantaged downstream assets, including OPPL and the Conway fractionator and storage facilities.'



Show Less
Terminal News
August 2, 2018
Fujairah: Oil product stocks down 2.9%
Oil product stocks at the Middle East's key oil hub of Fujairah fell 2.9% in the week to Monday, July 30, slipping to a five-week low as light distillate inventories lost more ground. Total oil stocks sank to 18.739 million barrels, down 559,000 barrels from a week earlier, according to the Fujairah Energy Data Committee...

Read More

Oil product stocks at the Middle East's key oil hub of Fujairah fell 2.9% in the week to Monday, July 30, slipping to a five-week low as light distillate inventories lost more ground.

Total oil stocks sank to 18.739 million barrels, down 559,000 barrels from a week earlier, according to the Fujairah Energy Data Committee.

The biggest decline was in light distillate stocks, which dropped 10.35% to 5.741 million barrels, the lowest since the start of the year, the data showed.

'Middle Eastern petrol demand appears steady, while African demand is picking up on the evidence of recent tender purchases from South Africa, Tanzania and Kenya,' S&P Global Platts Analytics said in a report Wednesday.

State-owned Kuwait Petroleum continued to be an active buyer of petrol seeking 25,000 mt of RON 91 petrol for delivery in late August via a tender closing this week, the reported added.

Spot premiums for Arab Gulf RON 95 petrol were at $3.95/b Tuesday.

Stocks of middle distillates also slipped 1.2% to 2.676 million barrels, an eight-week low.

'Arbitrage of jet fuel and gasoil to Europe could be complicated by the recent attack by Yemeni Houthi rebels against two Saudi crude tankers. The route to the Red Sea from the Indian Ocean passes through the Gulf of Aden and the narrow straits known as the Bab al-Mandab,' Platts Analytics said.

While there has been no sign of any impact to product tanker movements, the incident adds a further complication to already squeezed arbitrage flows. Jet cargoes have already been seen heading from the Middle East and India eastwards to Singapore instead of Europe.

Stocks of heavy distillates and residues rose 1.3% to 10.322 million barrels, staying above 10 million barrels for the second week in a row and hitting the highest since December 11.

The higher inventories in Fujairah are in contrast to Singapore, where residue stocks dropped to a 6 1/2-year low of 16.196 million barrels last week on continued low arbitrage supply. Fujairah bunker demand had a slight improvement compared to last week, with more buying inquiries emerging after the recent lull.



Show Less
Terminal News
August 1, 2018
LBC & Magellan announce Seabrook storage terminal expansion
LBC Tank Terminals and Magellan Midstream Partners are increasing crude oil and condensate storage & dock capabilities at Seabrook Logistics in the Houston Gulf Coast. Seabrook Logistics, owned equally by subsidiaries of Magellan and LBC, plans to construct nearly 111,000 m3 of additional crude oil and condensate storage in Seabrook, Texas as well as develop a new Suezmax dock with up to a 45-foot draft and 400,000 barrels per day of dock capacity...

Read More

LBC Tank Terminals and Magellan Midstream Partners are increasing crude oil and condensate storage & dock capabilities at Seabrook Logistics in the Houston Gulf Coast.

Seabrook Logistics, owned equally by subsidiaries of Magellan and LBC, plans to construct nearly 111,000 m3 of additional crude oil and condensate storage in Seabrook, Texas as well as develop a new Suezmax dock with up to a 45-foot draft and 400,000 barrels per day of dock capacity.

Once the $120 million expansion is complete, Seabrook will own 490,000 m3 of storage, deep water access through and Aframax dock and Suezmax dock and connectivity to Magellan’s Houston crude oil distribution system.

It is expected to be operational by late 2019.

Michael Mears, Magellan’s CEO, says: ‘With increased crude oil production in the Permian Basin and other prolific regions, demand for crude oil storage and export capabilities continues to grow in the Houston Gulf Coast area.’

‘With the expansion of the Panama Canal and the growing role of the US in increased flows of oil, this is an important development for our project and for the success of our customers,’ says John Grimes, LBC’s group COO.

Export capabilities recently commenced for Seabrook Logistics, which currently operates 380,000 m3 of crude oil and condensate storage.



Show Less
Terminal News
August 1, 2018
Reach 10,000 terminal professionals with Tank Storage Magazine
Would you like to promote your company to 10,000 tank terminal professionals?The August/September edition of Tank Storage Magazine is one of the most important issues of the year, with distribution at no less than nine tank storage events worldwide. This is in addition to the magazine's usual independently audited postal distribution of 3,500 terminals across the globe...

Read More

Would you like to promote your company to 10,000 tank terminal professionals?

The August/September edition of Tank Storage Magazine is one of the most important issues of the year, with distribution at no less than nine tank storage events worldwide.

This is in addition to the magazine's usual independently audited postal distribution of 3,500 terminals across the globe. In total this issue will be given to 10,000 industry professionals.

Event distribution includes:

• Tank Storage Asia, Singapore (exclusive delegate bag distribution)

• Tank Storage Association, UK

• API Tanks, Valves & Piping Conference & Expo, Seattle, US (delegate bag distribution)

• Asia Pacific Petroleum Conference (APPEC 2018), Singapore (delegate bag distribution)

• Gastech, Spain

• 8th Gulf Intelligence Energy Markets, Fujairah, UAE (exclusive delegate bag distribution)

• Bulk Liquid Storage Europe 2018, Spain

• EPCA Annual Meeting, Austria

• NISTM Conference & Expo, Texas

Articles within this issue include:

• Exclusive storage operator interviews, including a new storage project in Singapore as well as plans for a petrochemical hub in Malaysia

• A comprehensive overview of the tank terminal market in the region, including new construction projects as well as developments affecting the industry

• A look at the looming 2020 IMO sulphur fuel cap from a shipping and storage terminal perspective

• In-depth articles looking at Singapore's new Safety Case regime, hurricane preparation, tank level monitoring, fire safety, emissions, drones, process safety and cyber security threats

• Dedicated chemical storage supplement, including market analysis on the chemical storage sector as well as interviews with operators and ports – an added bonus to coincide with the issue bring distributed at the EPCA Annual Meeting in Vienna.

The deadline for this issue is the August 13th. To get involved in this bumper edition, contact David@tankstoragemag.com



Show Less
Terminal News
August 1, 2018
BP acquires BHP’s US oil and gas assets
BP has agreed to acquire a portfolio of unconventional oil and gas assets from BHP in a move that will upgrade and reposition its US onshore oil and gas business.The deal will bring BP extensive oil and gas production and resources in the Permian and Eagle Ford basins in Texas and in the Haynesville gas basin in Texas and Louisiana...

Read More

BP has agreed to acquire a portfolio of unconventional oil and gas assets from BHP in a move that will upgrade and reposition its US onshore oil and gas business.

The deal will bring BP extensive oil and gas production and resources in the Permian and Eagle Ford basins in Texas and in the Haynesville gas basin in Texas and Louisiana.

Under the terms of the agreement, BP America Production Company will acquire from BHP Billiton Petroleum 100% of the issued share capital of Petrohawk Energy Corporation – a wholly owned subsidiary of BHP - for $10.5 billion.

The transaction is expected to be complete by the end of October.

The assets include 470,000 net acres of licences, including a new position for BP in the Permian-Delaware basin, and two positions in the Eagle Ford and Haynesville basins. These have a combined production of 190,000 barrels of oil equivalent per day.

The acquisition will significantly increase the liquid hydrocarbon proportion of BP's production and resources in the US onshore, to around 27% of production and 29% of resources from the current 14% and 17% respectively.

Bob Dudley, BP group chief executive, says: 'This is a transformational acquisition for our Lower 48 business, a major step in delivering our upstream strategy and a world-class addition to BP's distinctive portfolio.



Show Less
Terminal News
July 31, 2018
Magellan to expand refined petroleum products pipeline system
Magellan Midstream Partners will expand the western leg of its refined petroleum products pipeline system in Texas.The company previously announced its plans to expand the capacity of this line segment to 150,000 barrels per day from its current capacity of 100,000 barrels per day...

Read More

Magellan Midstream Partners will expand the western leg of its refined petroleum products pipeline system in Texas.

The company previously announced its plans to expand the capacity of this line segment to 150,000 barrels per day from its current capacity of 100,000 barrels per day. Based on additional committed volume received as part of its recent supplemental open season, Magellan now plans to expand this capacity to 175,000 barrels per day at a cost of $500 million.

The expanded capacity will handle incremental shipments of petrol and diesel fuel to demand centres in Abilene, Midland/Odessa and El Paso, Texas and New Mexico. The pipeline system can also access markets in Arizona and Mexico via connections to other pipelines.

The expansion will be accomplished by a combination of increased pipeline diameter along the existing route and construction of 140 miles of new pipe from Hearne to Alexander, Texas. Connectivity to the ExxonMobil Pipeline Company's terminal in Wink, Texas will also be added as part of the expansion.

It is expected to be available by mid-2020. The company says that construction of new refined products terminals in both Midland and the Delaware Basin remain under review.

Michael Mears, CEO, says: 'Magellan's expansion of our refined products pipeline system into West Texas provides our customers with continued flexibility to meet growing demand for petrol and diesel fuel in the region with supply from our Gulf Coast and Mid-Continent origins.

'Further, construction of the new pipeline segment between Hearne and Alexander has the strategic advantage of providing additional capacity along our extensive pipeline network to satisfy strong demand for refined products destined for the Dallas-Fort Worth metropolitan area.'



Show Less
Terminal News
July 31, 2018
How to protect storage terminals from cyber security threats
Sujith Panikkar, functional safety expert from HIMA Asia Pacific provides an overview of the functional safety standards that require facilities to consider cyber security threats, what operators need to know and how to ensure they are compliant SIS safety lifecycle management in the context of Singapore's safety case regimeThe Singapore safety case regime, which became law on 1st September 2017, places increased responsibility on operators to manage safety in their Major Hazards Installations (MHI), making use of best practices and standards to keep risk reduced to ALARP (as low as reasonably practicable) levels though out the lifecycle of the installation...

Read More

Sujith Panikkar, functional safety expert from HIMA Asia Pacific provides an overview of the functional safety standards that require facilities to consider cyber security threats, what operators need to know and how to ensure they are compliant

SIS safety lifecycle management in the context of Singapore's safety case regime

The Singapore safety case regime, which became law on 1st September 2017, places increased responsibility on operators to manage safety in their Major Hazards Installations (MHI), making use of best practices and standards to keep risk reduced to ALARP (as low as reasonably practicable) levels though out the lifecycle of the installation.

The SIS (Safety Instrumented System) is a key active protection barrier in most process plants. Managing the SIS requires end users to follow the guidelines and principles detailed in the IEC 61511 standard (functional safety – Safety Instrumented Systems for the process industry sector).

It is also a requirement in the safety case to demonstrate how safety-related control systems have been designed and being operated and maintained to ensure safety and reliability. In this context the 'Safety Case Technical Guide' and the 'Safety Case Assessment Guide' published by the Singapore Ministry of Manpower - Major Hazards Department points to the IEC 61511 and Functional Safety Management for guidance.

The latest release of the IEC 61511 standard (Edition 2) in 2016 further emphasises the responsibility of end users to manage Safety Instrumented Systems (SIS) through the life cycle of the installation.

Security concerns

In the recent years, with increasing frequency of cyber-attacks on industrial installations, concerns regarding security of SIS installations have come to the fore creating additional challenges for end users.

Conventionally, the design of safety instrumented systems is based on identification of process safety hazards and putting in place safety instrumented protective functions to prevent consequences. This is usually approached by well-established methods for HAZOP/ SIL Classification.

It needs to be taken note that the process safety hazards analysis does not usually involve an evaluation of cyber-security vulnerabilities and threats. However, when a cyber-attack takes place on control and safety systems, the consequences can be quite similar to those arising from process safety hazards.

As evident from incidents like the Ukraine power grid outage in 2015, caused by hackers who managed to gain entry into the control systems unnoticed and then forced a blackout leaving over 230,000 residents without power or the STUXNET, in 2010, which affected nuclear facilities in Iran, the consequences of a cyber incident can be quite similar to that of a process safety incident with implications on people, environment and assets.

With cyber-attacks on industrial control and safety systems becoming a reality, operators of MHIs are now forced to examine a new scenario:

'Are safety instrumented systems responsible for protecting your MHI secure?'



Making safety instrumented systems secure


Ensuring security of safety instrumented systems requires a special strategy. This approach is based on three cardinal principles accruing from IEC 61508/ 61511 and IEC 62443 standards:

• Protection of safety functions: security effectively prevents negative influences of threats to SIS and their implemented safety functions

• Compatibility of implementations: security does not interfere with safety and vice versa

• Protection of security countermeasures: the safety implementations do not negatively compromise the effectiveness of security implementations

In order to ensure security of the SIS, there are well established approaches that involve the deployment of a cyber security lifecycle based on the guidelines of IEC 62443, using principles of defence-in-depth, segregation by zones and conduits etc.

To ensure the safety of Major Hazards Installations, operators now have a major task in hand: to review the architecture and design of their existing SIS protecting their installations to ensure these are secure as well.



Panikkar will be speaking more about functional safety standards and cyber security threats on the morning of the second day of the Tank Storage Asia conference. For more information, visit www.tankstorageasia.com.



Show Less
Terminal News
July 30, 2018
Eagle LNG opens Maxville LNG facility
Eagle LNG Partners has opened its Maxville LNG facility with a production capacity of 200,000 gallons per day with a one-million-gallon storage tank.The plant has been operating since early 2018 and is built to supply Eagle LNG's marine fuel depot located on the Port of Jacksonville's Talleyrand marine terminal...

Read More

Eagle LNG Partners has opened its Maxville LNG facility with a production capacity of 200,000 gallons per day with a one-million-gallon storage tank.

The plant has been operating since early 2018 and is built to supply Eagle LNG's marine fuel depot located on the Port of Jacksonville's Talleyrand marine terminal.

Eagle LNG will fuel Crowley Maritime's two new LNG-powered Commitment Class ships for US mainland to Puerto Rico trade from its Talleyrand marine fuel depot in addition to serving growing domestic and Caribbean needs for clean-burning, economical LNG.

Eagle LNG's marine fuel depot is a shore-side facility offering 500,000 gallons of LNG bunkering capability, while occupying a small two-acre footprint, allowing buinkering at Crowley's berth where their ships are homeported.

The fuel depot it the first of its kind globally. As a permanent marine infrastructure, it delivers a long-term LNG bunkering solution at the Port of Jacksonville for both domestic and international marine trade routes.

The LNG facility and LNG marine fuel depot each contributes to the LNG infrastructure needed for shipping companies to comply with the IMO's rule requiring the reduction of marine fuel sulphur content by January 1, 2020.



Show Less
Terminal News
July 30, 2018
Tank Storage Asia announces key speakers
The latest safety regulations in Singapore, the IMO 2020 Sulphur fuel cap, an overview of developments affecting the tank terminal market in Asia and future growth opportunities in South East Asia are some of the topics featured in Tank Storage Asia's conference line up...

Read More

The latest safety regulations in Singapore, the IMO 2020 Sulphur fuel cap, an overview of developments affecting the tank terminal market in Asia and future growth opportunities in South East Asia are some of the topics featured in Tank Storage Asia's conference line up.

The two-day, CPD-certified conference at the Marina Bay Sands in Singapore will feature insights from leading players and industry influencers about the latest trends and developments affecting the region's tank terminal market.

This year's conference on September 26th and 27th also has a special focus on safety at terminals as well as the latest regulations affecting operators in Singapore. Singapore's new Safety Case regime places a greater responsibility on operators to manage safety in their Major Hazard Installations by making use of best practices and standards to reduce risks.

A series of industry experts will be discussing various aspects of this new legislation and safety in terminals. Bernard Ong, Director of Operations at Vopak Terminals Singapore, will talk more about Vopak Banyan's Safety, Health and Environment initiatives, Dr Sukhy Barhey, Director of BMT Group will discuss the new regulation under the Workplace Safety and Heath Act while and Mike Warren and Lyn Fernie from Zento Global Solutions will talk about improving safety culture and the human element of safety.

Dr Peck Thian Guan, Singapore's representative to the ISO Project Committee for the development of the ISO standard on Occupational Health and Safety Management System will also present a session on implementing the new ISO 45001.

Sessions will also cover the future of drones and security at the terminal, fire safety management, technical due diligence for terminal mergers & acquisitions and cyber security threats.

Nick Powell, StocExpo & Tank Storage Portfolio divisional director, says: 'Tank Storage Asia is our fastest growing exhibition and conference within the portfolio. Last year saw the highest ever visitor numbers, with almost 1,700 tank storage professionals from 35 countries in attendance – we hope to exceed this in 2018 and look forward to bringing the industry back together once again.

'The landmark gathering of business leaders and thought leaders will also provide industry professionals with a unique opportunity to participate in panel debates, engage in the latest industry developments, and network with industry peers.'

Click here to view the conference programme. For more information on the exhibition, visit: www.tankstorageasia.com



Show Less
Terminal News
July 27, 2018
Wren House to acquire North Sea Midstream Partners
Wren House Infrastructure has bought North Sea Midstream Partners (NSMP), the largest independent North Sea midstream business, from ArcLight Capital Partners.Wren House, a global infrastructure investor and affiliate of ArcLight Capital Partners, will acquire ArcLight's entire stake in the company...

Read More

Wren House Infrastructure has bought North Sea Midstream Partners (NSMP), the largest independent North Sea midstream business, from ArcLight Capital Partners.

Wren House, a global infrastructure investor and affiliate of ArcLight Capital Partners, will acquire ArcLight's entire stake in the company.

NSMP has interest in and operates four large scale natural gas transportation and processing assets in and around the North Sea. The assets, which form a key part of the UK's gas infrastructure, include a 67% operated interest in the Shetland Island Regional Gas Export System pipeline and a 100% operated interest in the Frigg UK pipeline.

NSMP also owns a 100% operated interest in the associated St. Fergus Gas Terminal and the Teesside Gas Processing Plant.

The company was established in 2012 by ArcLight to acquire and consolidate assets in the midstream sector of the North Sea's oil and gas industry.

The transaction is expected to complete in 2018.

Hakim Drissi Kaitouni, managing director of Wren House, says: 'This acquisition underlines Wren House's long-term strategy of investing in superior quality platforms. NSMP's catchment areas, in particular the West of Shetland basin, represent one of the most promising areas in terms of exploration and future developments. Our deep experience in energy infrastructure, operational expertise and financial strength make Wren House uniquely qualified to acquire NSMP.'

Andy Heppel, CEO of NSMP, adds: 'We are proud to have worked with ArcLight to successfully acquire and integrate the TGPP, St. Fergus, FUKA and SIRGE investments and build NSMP to be the largest independent midstream business serving both the UK and Norwegian sector of the North Sea.

'The combination of NSMP's great base business with Wren House's financial expertise and commitment to operational excellence will be the trigger for continued development of the NSMP infrastructure in the North Sea.'



Show Less
Terminal News
July 26, 2018
Fujairah: Oil product stocks fall 4% week on week
As of Monday, July 23 total oil product stocks in Fujairah stood at 19.298 million barrels. Total stocks fell by 4% week on week after hitting a seven-month high last week. Stocks of light distillates fell by 12.6% week on week to 6.403 million barrels...

Read More

As of Monday, July 23 total oil product stocks in Fujairah stood at 19.298 million barrels. Total stocks fell by 4% week on week after hitting a seven-month high last week.

Stocks of light distillates fell by 12.6% week on week to 6.403 million barrels. Fundamentals remained largely unchanged - weak in Asia amidst ample supply, but stronger in the Middle East. Bahrain bought an MR cargo of 92 RON gasoline slated to arrive in late August, a source aware of the matter said.

In tenders, KPC was heard seeking three parcels of either 91 RON or 95 RON petrol for delivery at Mina al-Ahmadi over August-October via a tender closing July 25 with same-day validity. KPC last sought three 25,000 mt parcels of petrol for delivery over August-October in a tender that closed last week, but it was unclear if the tender was awarded. Spot premiums for Arab Gulf RON 95 petrol were at $4.05/b yesterday.

Stocks of middle distillates fell by 10% week on week to 2.708 million barrels – a six-week low. Traders said barrels were currently more likely to go east from the Arab Gulf rather than west into Europe. This is despite seasonally lower demand in parts of South Asia and Southeast Asia due to Monsoon rains.

On-shore Singapore middle distillate rose for a seventh consecutive week to a 15-week high last week. The front-month East-West Exchange of Futures for Swap was priced at minus $6.08/mt yesterday – which is above the levels of minus $10-15/mt needed to make gasoil arbitrage workable.

Stocks of heavy distillates and residues rose by 4.2 % week on week to 10.187 million barrels. Stocks rose to their highest level seen this year and topped 10 million barrels for the first time since December 25, 2017.

Inventory levels have risen despite the current backwardation in market structure, with the front-month time spreads for Arab Gulf 180 CST swaps at $7.25/mt yesterday on the back of the continued tightness in the Singapore market. 'It is difficult to gauge the market as [fuel oil] time spreads and cargo premiums went crazy recently,' a Singapore bunker fuel trader said.



Show Less
Terminal News
July 25, 2018
Total acquires Engie’s upstream LNG assets
Total has acquired Engie's portfolio of upstream LNG assets, including interest in the Cameron LNG project in the US, for $1.5 billion.The portfolio includes participating interested in liquefaction plants, including the Cameron LNG project, long term LNG sales and purchase agreements, an LNG tanker fleet as well as access to regasification capacities in Europe...

Read More

Total has acquired Engie's portfolio of upstream LNG assets, including interest in the Cameron LNG project in the US, for $1.5 billion.

The portfolio includes participating interested in liquefaction plants, including the Cameron LNG project, long term LNG sales and purchase agreements, an LNG tanker fleet as well as access to regasification capacities in Europe.

Patrick Pouyanné, chairman and CEO of Total, says: 'Acquiring Engie's LNG business is a real step change for Total allowing us to leverage size and flexibility in the fast growing and increasingly commoditised LNG market.

'This transaction makes Total the second largest global LNG plater among the majors with a worldwide market share of 10% and the group will manage an overall LNG portfolio of around 40 mt per year by 2020.

'It also helps us to build a position in the US LNG market with the 16.6% stake in the Cameron LNG project.'

Total's LNG portfolio by 2020 will comprise a total volume of LNG managed of 40 mt/year, a liquefaction capacity portfolio of 23 mt/year in the Middle East, Australia, Russia and the US, a fleet of 18 LNG carriers and a role of key supplier for the European market with regasification capacities of 18 mt/year.



Show Less
Terminal News
July 24, 2018
Saudi Aramco crude to chemicals complex project progresses
Saudi Aramco's crude oil to chemicals complex is on track to become the largest of its kind in the world.The complex is expected to process 400,000 barrels per day of Arabian light crude oil, which will produce nine million tonnes of chemicals and nine million tonnes of fuels per year...

Read More

Saudi Aramco's crude oil to chemicals complex is on track to become the largest of its kind in the world.

The complex is expected to process 400,000 barrels per day of Arabian light crude oil, which will produce nine million tonnes of chemicals and nine million tonnes of fuels per year.

It is projected to achieve a direct conversion rate from crude oil to chemicals of up to 50%, which is unprecedented globally.

Saudi Aramco and SABIC, who are partnering on the giga project, awarded a contract to KBR, a global leader in project management and engineering services, to develop a part of the complex.

KBR will provide the front-end engineering and design for the downstream petrochemicals and chemicals component within the master complex. The scope includes engineering studies, infrastructure planning and development for both of the polymer and glycol units, along with the aromatics complex, the COTC master plot plan and offsite utilities.



Show Less
Terminal News
July 24, 2018
Andeavor awarded more Mexican pipeline & storage capacity
Andeavor was the successful bidder in Pemex's open season for the North and Pacific Systems in the Northwestern region of Mexico.This means that Andeavor has been awarded capacity on Pemex Logistica's oil products pipeline and storage terminals in the open season 3...

Read More

Andeavor was the successful bidder in Pemex's open season for the North and Pacific Systems in the Northwestern region of Mexico.

This means that Andeavor has been awarded capacity on Pemex Logistica's oil products pipeline and storage terminals in the open season 3.1 for Mexico.

The company says that with these additional positions, it intends to continue its strategic expansion within Mexico by extending its existing West Coast and Southwest integrated value chains and growing its existing marketing operations in the Northwestern region of Mexico with the ARCO brand.

The capacity includes the use of three Pemex marine and storage terminals in Baja California Sur and Sinaloa, plus two pipelines and two storage facilities in the state of Chihuahua.

Siomara Marquez, Andeavor country director, Mexico, says: 'We are excited about this awarded capacity and the opportunity it provides for additional value creation for our company, customers, business partners and communities in Mexico.'



Show Less
Terminal News
July 23, 2018
PBF Logistics to buy New Jersey storage facility
PBF Logistics has agreed to purchase CPI Operations from Crown Point International, which includes a storage facility & other idled assets on the Delaware River for $107 million.The East Coast Storage assets include a storage facility with four million barrels of multi-use storage capacity, with over 50% being heated storage, an Aframax-capable marine facility, a truck terminal, equipment, contracts and other assets...

Read More

PBF Logistics has agreed to purchase CPI Operations from Crown Point International, which includes a storage facility & other idled assets on the Delaware River for $107 million.

The East Coast Storage assets include a storage facility with four million barrels of multi-use storage capacity, with over 50% being heated storage, an Aframax-capable marine facility, a truck terminal, equipment, contracts and other assets.

With close proximity to the Paulsboro refinery, the assets are expected to provide synergy opportunities at the company's sponsor, PBF Energy.

Once the transaction is closed, PBF Logistics expects to invest $8.5 million over the next two years on projects to enhance capabilities at the facility and expects to achieve run-rate earnings before interest, taxes, depreciation and amortisation of $15.5 million at the end of 2020.

Matt Lucey, PBF Logistics executive vice president, says: 'The acquisition of the East Coast Storage assets will be immediately accretive and will strategically position the partnership for the upcoming IMO's low sulphur fuel specification change in 2020 by adding significant marine accessible storage assets to our portfolio that are capable of handling a range of material from finished petroleum products and residual fuel oils to heavy, high sulphur refinery feedstocks.'



Show Less
Terminal News
July 23, 2018
Kinder Morgan’s terminals segment up
Kinder Morgan's terminal segment earnings recorded a 3% increase thanks to storage capacity growth at key hubs.Contributions from its liquids business, which accounts for 80% of the segment total, we up 3% compared to the second quarter of 2017 driven by storage capacity increases in key hubs along the Houston Ship Channel and Edmonton, Alberta, as well as the full-period impact of the new-build Jones Act tankers delivered in 2017...

Read More

Kinder Morgan's terminal segment earnings recorded a 3% increase thanks to storage capacity growth at key hubs.

Contributions from its liquids business, which accounts for 80% of the segment total, we up 3% compared to the second quarter of 2017 driven by storage capacity increases in key hubs along the Houston Ship Channel and Edmonton, Alberta, as well as the full-period impact of the new-build Jones Act tankers delivered in 2017.

Kinder Morgan president Kim Dang says: 'These contributions were partially offset by the impact of certain divestitures, lower charter rates on existing Jones Act tankers, and lower tank utilisation at our Staten Island, New York location.'

At the company's Base Line Terminal in Alberta, construction of all major facilities is materially complete. The first six tanks at the 12-tank, 4.8-million-barrel facility, were placed into service in the first quarter of 2018. Four of the remaining tanks are expected to be placed into service in the third quarter of 2018 with the final two tanks in service in the fourth quarter. The project is expected to be delivered under budget, owing to project management efficiencies and cost savings.

In May, Kinder Morgan and a large, international integrated energy company entered into a binding Terminal Services Agreement to construct two new distillate tanks with a combined capacity of 200,000 barrels and enhance the railcar unloading capabilities at Kinder Morgan's Vancouver Wharves terminal in North Vancouver. Permitting efforts are underway, and the project is expected to be placed in service in mid-2020.



Show Less
Terminal News
July 23, 2018
Argent Energy acquires biodiesel storage & production facility
Argent Energy Netherlands will buy a biodiesel production, tank storage and cleaning facilities from Amsterdam-based Simadan Group.Argent Energy, a subsidiary of John Swire & Sons, is involved in large scale commercial biodiesel production in the UK...

Read More

Argent Energy Netherlands will buy a biodiesel production, tank storage and cleaning facilities from Amsterdam-based Simadan Group.

Argent Energy, a subsidiary of John Swire & Sons, is involved in large scale commercial biodiesel production in the UK. It has also pioneered the use of low grade waste fats and oils.

The addition of these facilities represents the first step for Argent Energy replicating its successful business outside the UK. The deal is expected to be completed by early September and is subject to various conditions being met.

Jim Walker, Argent Energy MD, says: 'This investment will allow Argent to develop our capability of recycling waste fats and oils in the production of biofuel. It further underlines Swire's commitment to contribute to the global reduction of CO2 emissions, just as the UK and the EU are legislating for continued decarbonisation of transport to 2030 and beyond.'



Show Less
Terminal News
July 20, 2018
Engineering firm to build white oil products storage terminal in Africa
SMEC Africa has been appointed by Ethiopian Petroleum Supply Enterprise to develop a white oil products storage terminal at Port Dukem in Ethiopia.The terminal will be the first in the country to store and handle aviation fuel as well as refined petroleum and white products...

Read More

SMEC Africa has been appointed by Ethiopian Petroleum Supply Enterprise to develop a white oil products storage terminal at Port Dukem in Ethiopia.

The terminal will be the first in the country to store and handle aviation fuel as well as refined petroleum and white products. It will comprise product storage tanks, tank truck and rail wagon receipt facilities and a tank truck loading gantry.

It will be one of the biggest in the country, with 240,000 m3 of storage capacity.

SMEC will provide the services at the terminal on an engineering, procurement, construction and management basis in two phases.



Show Less