Latest News

Market leading publication Tank Storage Magazine celebrates its 15th anniversary in 2019. To celebrate this milestone, the February/March edition of the publication will be the biggest yet, with tradeshow distribution at five major events worldwide. The February/March edition...

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Pin Oak has acquired 236 acres near its terminal in Corpus Christi, Texas to further expand its storage operations.The acquired land is located adjacent to the Kansas City Southern main rail line and Corpus Christi rail yard. The land can accommodate more than 10 million...

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Par Pacific Holdings has completed the acquisition of US Oil & Refining for $358 million.The acquisition includes a 42,000 barrel per day refinery, marine terminal, a unit train-capable rail loading terminal and 2.9 million barrels of refined product and crude oil storage.The...

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The 2019 StocExpo conference programme has been revealed, featuring discussions on IMO 2020, the outlook for crude oil and refined products, regional storage outlooks as well as cyber security and how to future-proof terminal operations.The conference and exhibition returns...

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Ineos has announced plans to invest €3 billion in an ethane gas cracker and world-scale PDH unit in Antwerp.The investment will be the biggest ever made by Ineos and its first cracker to be built in Europe in 20 years. The company says this investment...

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Philips 66 Partners, Harvest Midstream and PBF Logistics have entered into an agreement to jointly develop the ACE Pipeline System.The system will provide crude oil transportation service from the market hub in St James, Louisiana, to downstream refining destinations in...

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Husky Energy is considering selling its Canadian retail and commercial fuels business as well as its Prince George refinery as it embarks on a strategic review.The decision to review and consider a sale of non-core downstream assets comes as it increasingly focuses on core...

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Yantai Port has signed agreements with two subsidiaries of PetroChina to expand a crude oil terminal and build a new LNG receiving terminal.Kunlun Energy and Yantai Port will build an LNG receiving terminal comprising four LNG storage tanks, each with a capacity of 200,000...

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Six leading industry figures in the tank storage sector have been shortlisted for the prestigious Outstanding Achievement Award at the 2019 Global Tank Storage Awards. All nominees have an extensive amount of experience within the tank storage sector, as well as a multitude...

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Discovery Midstream Holdings has received initial equity funding of $1 billion from Stonepeak Infrastructure Partners to pursue a series of North American midstream opportunities.Headquartered in Dallas Discovery is led by four founding partners - Co-CEO's Drew Chambers...

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Petroperu is advancing construction work at its Ninacaca supply plant in Peru to meet growing demand for liquid fuels.Construction work is well underway by the OBS-IMECON consortium, the contractor for the project, at the facility in the Pasco region. This includes the development...

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Shell Gas has completed the acquisition of a 26% equity interest in the Hazira LNG and port venture from Total Gaz Electricité.The move brings Shell's equity interest in the venture in India to 100%.The transaction allows Shell to build an integrated gas value chain:...

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BP and SOCAR Turkey have signed a heads of agreement to evaluate the creation of a joint venture for the construction and operation of a world-scale petrochemicals complex in Turkey.The proposed facility, in Aliaga in western Turkey, would produce 1.25 million tonnes per...

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CLH Panamá has started operations at the Marcos A. Gelabert International Airport, which also include managing the into-plane fuel supply. The airport, which is one of major airports in Panama in terms of domestic flights and private navigation, is located a few...

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Sempra Energy has entered an agreement to sell its non-utility US natural gas storage facilities to ArcLight Capital Partners for $332 million.The assets included in the sale to ArcLight are the Mississippi Hub storage facility in Simpson County, Mississippi, with a working...

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The foundation stone of the Paradip-Hyderabad Pipeline project has been laid to mark the start of construction works on the 1,212km pipeline.The pipeline will run from Paradip to Hyderabad and will supply petroleum products such as petrol, high speed diesel, aviation turbine...

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Polski LNG has launched the tender process to select a contractor for three key projects within the President Lech Kaczyński LNG terminal expansion programme.These components include the construction of the third LNG process storage tank, delivery of additional process...

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Global Petro Storage has signed an agreement with turnkey service provider & EPC company SSB Cryogenic Services to expand and develop small-scale LNG supply chain solutions in Southeast Asia.With a global push for cleaner energy sources together with the IMO 2020 sulphur...

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As of Monday, December 31 total oil product stocks in Fujairah stood at 17.348 million barrels – down by 1.9% week on week. Stocks of light distillates fell by 2.1% week on week to 9.669 million barrels. Stocks saw little change from recent levels, averaging 9.72...

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