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Iraq has signed a heads of agreement to build an industrial island in the Persian Gulf which would significantly increase its export and storage capacity.The agreement with Dutch firm Boskalis will add more than six million barrels per day of storage capacity as well as...

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Libya's National Oil Company is increasing storage capacity at its Ras Lanuf storage facility to its highest level since 2016.Its subsidiary Harouge Oil Company has replaced storage tank number 7, which has a capacity of 500,000 barrels of crude oil. The company says this...

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Varo Energy has acquired all shares in SMD Beheer, which owns and operates a terminal in Gorinchem as well as 19 retail service stations in the Netherlands.The business lines which distribute lubricants and deliver fuel oil to home-base customers are not core to Varo's strategy...

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Mark Stuart, the internationally sought-after speaker and trainer from the Anagram Group, will deliver the keynote address at Tank Storage Asia, joining senior figures from leading organisations, such as Wood Mackenzie and Oiltanking Asia Pacific, as part of the event's...

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Saudi Aramco has confirmed that full production capacity at its Abqaiq and Khurais plants will be fully restored by the end of September.The company's president and CEO Amin Nasser said during a new conference that the synchronised attacks were timed to create maximum damage...

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The US approach to energy policy seeks to maximise the benefits of energy abundance and to push the country to be a global leader in energy technologies.The effects of the US shale revolution have had far-reaching implications on the country's energy landscape and has reshaped...

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Qatar Petroleum has launched a tender process for the EPC of additional liquid products storage and loading facilities and mono-ethylene glycol storage and distribution facilities in Ras Laffan Industrial City.The new facilities under this tender, which will be part of the...

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SemGroup has entered into a merger agreement with Energy Transfer, one of the largest, diversified midstream energy companies in North America in a transaction valued at $5.1 billion.The transaction values SemGroup at $17 per share and represents a 65% premium to SemGroup's...

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LBC Tank Terminals has appointed Frank Erkelens as its new group CEO, replacing Walter Wattenbergh who is set to retire.Erkelens, who has extensive international leadership experience in the tank terminals and logistics sector and was recently CEO of Odfjell Terminals, will...

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A drone attack on the world's biggest crude-processing facility removed 5% of global oil supplies and caused London's Brent futures to surge $12 when trading opened on Monday.The attack on Saudi Aramco's Abqaiq facility and its Khuaris oil field on Saturday resulted in the...

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Black Diamond Gathering, the joint venture between Noble Midstream Partners and Greenfield Midstream, has formed a strategic relationship with Saddlehorn Pipeline Company.The relationship includes an option for Black Diamond to take a 20% ownership in Saddlehorn. This investment...

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As of Monday, September 9 total oil product stocks in Fujairah stood at 17.355 million barrels. Stocks fell by 2.54 million barrels week on week. This is the first time they have stood around 17 million barrels since the end of 2018 when they fell to...

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Valero Energy and Darling Ingredients have initiated an advanced engineering and development cost review for a new renewable diesel plant in Port Arthur, Texas.The proposed facility under review would product 400 million gallons of renewable diesel annually as well as 40...

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Vopak has acquired a 49% stake in Sociedad Portuaria el Cayao, an LNG import facility in Cartagena, Colombia.The facility is the only LNG import facility in Colombia and has been in operation since 2016.It comprises an LNG jetty, onshore infrastructure and a 9.2km gas...

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The first expansion phase at Vopak's Veracruz terminal in Mexico has started operations.Phase 1 began operations early in September with the launch of new fillers and 200 auto-tanks operating daily 24 hours a day.Vopak says that along with its customer, it now supports the...

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Oman Oil and Orpic Group have signed an MoU with SK Engineering & Construction for the development of the storage and terminal business in Duqm.The MoU covers the development of a storage and terminal business in the country's special economic zone. Both parties will...

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Delta Western has paid a $400,000 penalty and committed to install internal floating roofs to three tanks following alleged Clean Air Act violations.The US-based independent distributor, which distributes diesel and gasoline to commercial customers in Alaska from its Juneau...

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