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Latest storage news


Terminal News
October 9, 2019
Enterprise to expand Midland to Echo crude oil pipeline
Enterprise Products Partners has secured long-term agreements that support a further expansion of the Midland to Echo crude oil pipeline system. The company will build a pipeline that connects the partnership’s six-million-barrel Midland, Texas storage facility to its Echo terminal through its Eagle Ford system in South Texas...

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Enterprise Products Partners has secured long-term agreements that support a further expansion of the Midland to Echo crude oil pipeline system.

The company will build a pipeline that connects the partnership’s six-million-barrel Midland, Texas storage facility to its Echo terminal through its Eagle Ford system in South Texas.

This pipeline will have an initial capacity of 450,000 barrels per day and can be expanded up to 540,000 barrels per day. Enterprise’s Houston crude oil distribution system includes more than 45 million barrels of storage and four million barrels per day of export capacity from its network of marine terminals and connects to every refinery in the Houston Texas City and Beaumont/Port Arthur area, representing 4.5 million barrels per day of capacity. It is expected to begin service in the first half of 2021.

The pipeline will also allow Enterprise to optimise its entire Midland to Echo system, which will be comprised of four pipelines, by moving barrels in the most cost-efficient manner. The expansion will also enable the company to maximise the operation flexibility of the Seminole Red pipeline in either crude oil or NGL service based on the needs of the respective markets.

A.J ‘Jim’ Teague, CEO of Enterprise’s general partner, says: ‘Enterprise continues to benefit by providing customers with integrated crude oil services. Our system allows us to provide producers in the Permian Basin and Eagle Ford shale with segregated storage, transportation, distribution and marine terminal services. This integrated model supports customers’ need for flow assurance and market choices, whether the markets are domestic or international. It also enhances the value of production destined for international markets by assuring product segregation, quality and consistency based on the customer’s production.

‘Crude oil and NGL production from the Permian Basin and the Eagle Ford is expected to increase by five million barrels per day by 2025. This project gives us the flexibility to respond to changing customer demand for crude oil and NGL pipeline capacity over the long-term.’



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Terminal News
October 4, 2019
Holly Energy & Plains form pipeline and terminal JV
Plains All American Pipeline and Holly Energy Partners have created a joint venture company Cushing Connect Pipeline & Terminal to develop a new crude oil pipeline and operate a Cushing storage terminal.The 50/50 joint venture has been created to build a new 160,000 barrel per day common carrier crude oil pipeline that will connect the Cushing, Oklahoma crude oil hub to the Tulsa, Oklahoma refining complex owned by a subsidiary of HollyFrontier...

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Plains All American Pipeline and Holly Energy Partners have created a joint venture company Cushing Connect Pipeline & Terminal to develop a new crude oil pipeline and operate a Cushing storage terminal.

The 50/50 joint venture has been created to build a new 160,000 barrel per day common carrier crude oil pipeline that will connect the Cushing, Oklahoma crude oil hub to the Tulsa, Oklahoma refining complex owned by a subsidiary of HollyFrontier. It will also build and operate a 1.5-million-barrel crude oil storage terminal in Cushing, Oklahoma.

The terminal is expected to be in service during the second quarter of 2020, and the pipeline is expected to be in service during the first quarter of 2021. Long-term commercial agreements have been entered into to support the joint venture assets.

The JV will contract with an affiliate of Holly Energy to manage the construction and operation of the pipeline and with an affiliate of Plains to manage the operation of the JV terminal. The total joint venture investment will be shared proportionately among the partners and is estimated to total $130 million, including the existing JV terminal contributed by Plains valued at $40 million.

George Damiris, CEO of the general partner of Holly Energy, says: 'The new joint venture will provide growth to Holly Energy by insourcing logistics spend and provide the capability to supply 100% of HFC's Tulsa refinery crude throughput. Our partnership with Plains generated Holly Energy growth while providing HFC long-term control of a strategic asset.

Plains All American executive vice president – commercial Jeremy Goebel adds: 'This win-win joint venture aligns with our strategy of optimising existing assets to provide value-chain solutions for long-term industry partners in a capital efficient manner.

'This investment expands our relationship with a key operational hub service customer and provides additional long-term alignment on movements to the Tulsa refinery.'



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Terminal News
October 3, 2019
Evos Amsterdam terminal launches following Vopak acquisition
The former Vopak Terminal Amsterdam Westport facility has changed ownership and has been rebranded to Evos Amsterdam after it was acquired by First State Investments.The tank terminal, which was established in 2011, offers a total storage capacity of more than 1...

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The former Vopak Terminal Amsterdam Westport facility has changed ownership and has been rebranded to Evos Amsterdam after it was acquired by First State Investments.

The tank terminal, which was established in 2011, offers a total storage capacity of more than 1.2 million m3 for various liquid products. Ramon Ernst, who will remain as managing director of the terminal, is existed about the future business prospects for the terminal.

'The Evos Amsterdam terminal is an industry-leading facility for the storage and handling of clean petroleum products. We will continue to deliver outstanding service to our customers and adhere to the highest standards in safety, environment protection and efficiency.

'We are part of a worldwide energy supply chain that serves a broad range of thriving markets. Amsterdam is already a major hub for energy products and is well positioned to become a frontrunner in the transition to new forms of energy production, storage and distribution. With our new owners we look forward to contributing to these exciting developments.'

Alex Nassuphis, director of infrastructure investments, First State Investments, adds: '[The terminal] provides an excellent fit with First State's long-term infrastructure investment philosophy. FSI looks forward to working with the highly skilled management team and employees on site and continuing to develop and grow the business.'



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Terminal News
October 2, 2019
NextEra Energy acquires Meade Pipeline
NextEra Energy Partners will acquire Meade Pipeline and its interest in the Central Penn Line for $1.37 billion.The agreement includes $90 million in future capital contributions through 2022, which are related to an expansion opportunity at the existing pipeline...

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NextEra Energy Partners will acquire Meade Pipeline and its interest in the Central Penn Line for $1.37 billion.

The agreement includes $90 million in future capital contributions through 2022, which are related to an expansion opportunity at the existing pipeline.

Meade Pipeline owns a 39.2% interest in the Central Penn Line, a 185-mile intrastate natural gas pipeline that is an integral part of a pipeline system regulated by the Federal Energy Regulatory Commission that provides the Marcellus natural gas producing region across to large demand centres in the mid-Atlantic and Southeastern regions of the US.

The pipeline has the capacity to transport and deliver up to 1.7 billion cubic feed of natural gas per day. The pipeline, which is backed by a minimum 14-year contract with an investment-grade-equivalent customer, is jointly owned by Transcontinental Gas Pipe Line Company, which operates the pipeline as a segment of its larger Atlantic Sunrise project.

Central Penn is a long-term contracted natural gas pipeline that is a critical resource to transport low-cost Marcellus natural gas to Mid-Atlantic demand centres.

Jim Robo, chairman and CEO of NextEra Energy, says: 'We are pleased to have reached a definitive agreement to acquire Meade Pipeline and its interests in the Central Penn Line, which is backed by an attractive fixed-lease payment with a high-credit quality customer, and further expand NextEra Energy Partners' investment in long-term contracted natural gas pipelines, helping mitigate any potential resource volatility in the portfolio.

'Meade Pipeline is a very attractive acquisition for NextEra Energy Partners, and is expected to yield a double-digit return to NextEra Energy Partners' limited partner unitholders and generate a cash available for distribution yield of roughly 14%.'



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Terminal News
October 1, 2019
Odfjell Terminals to provide terminal services for new Ineos plant
Odfjell Terminals Houston has been selected to provide bulk liquid terminal services for the ASA plant feed products at Ineos Styrolution's new plant.In March 2017, Ineos Styrolution announced plans to increase production capacity of Acrylonitrile Styrene Acrylate (ASA) and Acrylonitrile Butadiene Styrene (ABS) in the Americas...

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Odfjell Terminals Houston has been selected to provide bulk liquid terminal services for the ASA plant feed products at Ineos Styrolution's new plant.

In March 2017, Ineos Styrolution announced plans to increase production capacity of Acrylonitrile Styrene Acrylate (ASA) and Acrylonitrile Butadiene Styrene (ABS) in the Americas. This includes construction of a new 100-kta capacity ASA plant at its Bayport Texas plant site. This will be the first new plant to be constructed by Ineos Styrolution since its founding in 2011, having acquired its many production facilities through acquisitions of existing plant sites.

The facility will be constructed within the Ineos Styrolution Bayport site, which currently houses the world's largest styrene monomer plant. The new ASA plant is expected to be operational in 2021.

Odfjell Terminals Houston will provide terminal services for the ASA plant feed products, Butyl Acrylate and Acrylonitrile. This includes the receipt, storage and pipeline transfer fo these critical feed products from the terminal o the ASA plant.

The ASA plant site will include packaging and warehousing for the finished pelletised products for final distribution to their customers.



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Terminal News
October 1, 2019
New website launched for 2020 Global Tank Storage Awards
The Global Tank Storage Awards returns for its fourth edition boasting a whole host of new features including extra judges, a new interactive website, enhanced categories and video nominations.The awards ceremony and gala dinner returns to the Floating Pavilion on March 10, 2020 after the first day of StocExpo Europe...

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The Global Tank Storage Awards returns for its fourth edition boasting a whole host of new features including extra judges, a new interactive website, enhanced categories and video nominations.

The awards ceremony and gala dinner returns to the Floating Pavilion on March 10, 2020 after the first day of StocExpo Europe.

New judges joining the panel this year include:

• Leo Brand, chief information officer for Vopak

• Guy Bessant, president, Stolthaven Terminals

• Hugh Carmichael, director feedstocks trading and shipping at Ineos

• Earl Crochet, director of engineering and operational optimisation at Kinder Morgan

• Craig Garbutt, terminal manager for North East terminals at Navigator Terminals UK

• Fahad Askar, COO of Horizon Terminals

An all-new website has been created to make submitting nominations quicker and easier. A key feature of the new website is an easy, user-friendly platform where you can save, amend and track your nominations. All entrants will have their own account, allowing access to a live tracking feature, displaying the status of each nomination.

For the first time in 2020, companies are also able to enter their nomination via video.

Once nominations close in February 2020, all 15 judges will be able to log on to this website to view nominations and videos, submit their feedback and ultimately decide on the award winners.

More categories

Following feedback from previous years, two new categories have been launched for 2020. The Port Innovation Award will recognise the port that is working the hardest to create a circular economy, digitalise its offering or use new technology to improve overall customer service & efficiency.

The Emerging Technology Award will recognise a cutting-edge technology that allows forward-thinking storage terminals to keep pace with a rapidly changing working environment.

Why nominate?

Submitting a nomination is absolutely free. It gives people the opportunity to present their company or technology to a panel of 15 respected experts within the tank storage sector, as well as receiving worldwide exposure.

Winners will be acknowledged as leaders in their field, generating excellent marketing opportunities, boosting the company's reputation and helping to attract new customers.

Previous winners at the Global Tank Storage Awards include Saudi Aramco, LBC Cepsa, Euro Tank Terminal Rotterdam, Shell Haven UK, Vopak Terminal Eemshaven, Emerson, Implico, EEMUA and many more.

For more information, to see the new website and to submit a free nomination visit www.tankstoragemag.com/awards.



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Terminal News
September 30, 2019
German LNG shortlists four EPC contractors for tender
Four internationally operating EPC contractors have been shortlisted to continue the tender process for the German LNG Terminal project.Essential qualifications that have been assessed are safety track record, experience in design and construction of similar projects, awareness of German codes and practices and financial strength...

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Four internationally operating EPC contractors have been shortlisted to continue the tender process for the German LNG Terminal project.

Essential qualifications that have been assessed are safety track record, experience in design and construction of similar projects, awareness of German codes and practices and financial strength.

The shortlisted companies are: Cobra Instalaciones y Servicios – Sener Ingeniería y Sistemas, Hyundai Engineering - Korea Gas Corporation, Sacyr Fluor - Entrepose Contracting / VINCI Construction Grands Projects - Sacyr Somague and Tecnicas Reunidas - Heitkamp HIKB.

The EPC tender closing is on December 5, with the contract award planned before the end of April 2020.

The scope of the contract contains a jetty with two berths for LNG caqrriers ranging from 1,000 up to 265,000 m3, both with LNG unloading and loading capabilities, LNG storage tanks, LNG vapourisation and distribution facilities for a total capacity of up to 8 bcm per annum.

The permit approval process for the German LNG Terminal project is moving steadily forward and serious commercial interest in the project is shown by heads of agreements signed by major European and non-European LNG players.



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Terminal News
September 30, 2019
Vopak completes sale of Amsterdam & Hamburg terminals
Vopak has completed the divestment of its storage terminals in Amsterdam and Hamburg to First State Investments for €600 million.The total agreed transaction includes a contingent consideration of $15 million, which is subject to certain revenue conditions...

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Vopak has completed the divestment of its storage terminals in Amsterdam and Hamburg to First State Investments for €600 million.

The total agreed transaction includes a contingent consideration of $15 million, which is subject to certain revenue conditions. The transaction generates a cash inflow for Vopak of €55 million.

Vopak is currently in talks with the current minority shareholder of the Algeciras for the sale of its 80% share interest fore the same purchase price and terms and conditions as agreed with First State Investments.

At the completion of the transaction of the terminal in Algeciras, the use of the total sales proceeds will be announced in line with the company's strategy and financial framework.



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Terminal News
September 27, 2019
Fujairah: Oil product stocks down 4.6%
As of Monday, September 23 total oil product stocks in Fujairah stood at 18.764 million barrels. Stocks fell by 911,000 barrels or 4.6% week on week mainly on a large dip in heavy residue. Stocks of light distillates were up by 168,000 barrels, reflecting a rise of 2...

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As of Monday, September 23 total oil product stocks in Fujairah stood at 18.764 million barrels. Stocks fell by 911,000 barrels or 4.6% week on week mainly on a large dip in heavy residue.

Stocks of light distillates were up by 168,000 barrels, reflecting a rise of 2.8 % week on week to 6.101 million barrels. Sentiment in the East of Suez gasoline market remained strong as the fallout from the September 14 attacks on Saudi crude facilities impacts refined product supply. According to Saudi energy minister Prince Abdulaziz bin Salman, Saudi crude production remains below normal levels, leading to a drop of around 1 million b/d in refining throughput. European gasoline has seen steady arbitrage outflows to plug shortfalls in Middle East supply. More than six Long Range ships have already been fixed to move naphtha and gasoline cargoes from Europe to Asia this week, Platts reported earlier. The FOB Singapore 92 RON gasoline crack against front-month ICE Brent crude futures was heard early Wednesday pegged between $7.90/b-$8.00/b.

Stocks of middle distillates rose by 10.7% or 225,000 barrels to stand at 2.327 million barrels. The East of Suez gasoil market continue to find support amid supply tightness following firm East to West outflows in earlier in the month, traders said. The front-month EFS - the difference between 10 ppm Singapore swaps and ICE low sulfur gasoil futures – was assessed at minus $12.75/mt on Tuesday compared to a low of minus $20.84/mt last week. 'There has been a significant amount of gasoil flowing to Europe from the Middle East and India when the arbitrage was wider,' a Singapore-based trader said. 'Markets are going to tighten on resupply concerns ... Saudi Arabia buying is keeping markets somewhat volatile.' Saudi Arabia is a major exporter of gasoil, averaging about 600-700 MB/D this year according to JODI data.

Stocks of heavy distillates fell by 11.2%, dropping by 1.304 million barrels on the week to stand at 10.366 million barrels. Fuel oil markets have cooled considerably after the huge spike in the aftermath of the Saudi attack. Fujairah 380 CST bunker prices jumped to a year to date high of $529.25/mt on September 17 but were down to $417.75/mt Tuesday. HSFO bunker prices are expected to see further declines over the coming months as the transition towards IMO 2020 compliant low-sulfur bunker diminishes demand for high-sulfur grades. Delivered Fujairah 0.5% marine fuel was assessed at a premium of $137/mt to 380 CST Tuesday, while forward markets are indicating premiums rising to around $250/mt in 1Q 2020.



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Terminal News
September 27, 2019
Socar Turkey increases refinery storage capacity
Socar Turkey has increased its overall storage capacity by expanding capacity at its storage terminal as well as increasing capacity at its Star refinery.The company inaugurated the Socar storage terminal tank expansion project at the same time as laying the foundation for the Star refinery crude oil and oil products tanks project...

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Socar Turkey has increased its overall storage capacity by expanding capacity at its storage terminal as well as increasing capacity at its Star refinery.

The company inaugurated the Socar storage terminal tank expansion project at the same time as laying the foundation for the Star refinery crude oil and oil products tanks project.

The storage terminal project includes 12 tanks with a total capacity of 335,000 m3. Currently the terminal is the largest in the Aegean region and with this expansion, it will further increase capacity to become one of Turkey's five largest terminals. It will store diesel, gasoline, jet fuel and reformates.

The next stage will be the Star refinery crude oil and oil products tanks project. This project will increase the refinery's storage capacity as well as enhance operational flexibility. It will provide an additional 342,000 m3 of storage capacity and is due to be complete in 2021. The refinery has 10 million tonnes of oil refining capacity a year.

These new investments will increase overall capacity at Socar Turkey to 2.5 million m3.

Socar president Rovnag Abdullayev says: 'Our petrochemical investments constitutes an important pillar of our operations, creating a long-term income source by bringing added value to the Azerbaijan economy, as well as making a big contribution to the region and Turkey.'

He adds that the storage capacity increase will also contribute to the productivity, commercial flexibility and production safety of the Star refinery.



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Terminal News
September 27, 2019
CLH Group commits €8 million to technology transformation
CLH Group is investing €8 million in the renewal of its main IT systems and processes to standardise and streamline procedures to improve efficiency.The 'ONE' project will affect CLH and CLH Aviación as well as the group's international companies located in the UK, Ireland and eventually Mexico...

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CLH Group is investing €8 million in the renewal of its main IT systems and processes to standardise and streamline procedures to improve efficiency.

The 'ONE' project will affect CLH and CLH Aviación as well as the group's international companies located in the UK, Ireland and eventually Mexico.

The project comprises the implementation of the same software across all companies to create a simpler and more uniform working methodology. This will facilitate cooperation and process automation and will reduce the number of computer applications used by 60%.

Corporate process such as financial management, purchasing and human resources will be streamlined toremove all unnecessary steps and optimise management.

The project will use robot programmes and storage of the main company data in a single platform to achieve administrative task optimisation. The new system also improved data analysis with real-time data query to assist with decision-making processes.

The company is also finalising the definition of a unique functioning model for the whole group, taking to account the specific features of each country in legal, accounting and tax matters, in addition to establishing new roles aimed at clearly defining the competences of each company in the main management areas and improving coordination within the group.



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Terminal News
September 27, 2019
Dialog Group launches next expansion of Pengerang Terminals
Dialog Group has launched Phase 3A of its Pengerang Deepwater Terminals development, comprising 430,000 m3 of clean petroleum products storage capacity.Phase 3A, which is the first part of the terminal's Phase 3, is supported by a long-term storage agreement with BP Singapore and is due to complete in mid-2021...

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Dialog Group has launched Phase 3A of its Pengerang Deepwater Terminals development, comprising 430,000 m3 of clean petroleum products storage capacity.

Phase 3A, which is the first part of the terminal's Phase 3, is supported by a long-term storage agreement with BP Singapore and is due to complete in mid-2021.

The construction of common tankage facilities and deepwater marine facilities (jetty 3) is already underway.

This project marks the continued expansion of the terminal in Pengerang, Johor, where Phase 2 is currently being developed on 300 acres of land within Pengerang Deepwater Terminals with an indicative initial investment of RM2.5 billion.

Dialog says it is targeting medium to long-term customers, potentially comprising oil traders, multinational oil companies, refineries and petrochemical plants, which will support various downstream operations including the refinery and petrochemical plants within the Pengerang Integrated Petroleum Complex.

Menteri Besar of Johor YAB Dato' Sahruddin bin Haji Jamal says: 'The petroleum and petrochemical industry has emerged as the top foreign investment draw in Johor.

'The sector recorded the highest amount of FDIs last year at RM11.83 billion, with RM8.46 billion concentrated in the oil and gas industry in Pengerang. Investments in the Pengerang hub has resulted in the creation of thousands of high value jobs and will continue to do so with the ongoing long-term development of Pengerang Deepwater Terminals.

Dialog executive chairman Tan Sri Ngau Boon Keat adds: 'Pengerang Deepwater Terminal offers a compelling value proposition for the establishment of strategic hub operations to capture the growth in the Asia Pacific region, given its ideal location and one-stop integrated hub offering. With Phase 1 and Phase 2 of PDT already in operation, the entry into the long-term storage agreement with BP Singapore for Phase 3A of PDT is another significant milestone in this direction and is expected to catalyse the further development of PDT in the coming years.

'With approximately 500 acres reserved for future phases, the development of PDT into the largest oil, gas and petrochemical hub in the Asia Pacific region is well underway, and our vision for Pengerang to become the 'Rotterdam of the East' is becoming a reality.'

The terminal has been recognised as the largest oil and gas storage terminal in Malaysia, with a current storage capacity of three million m3 and is has also been recognised as the deepest jetty in the country.



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Terminal News
September 27, 2019
GP Global delivers first low sulphur bunker fuel
GP Global has completed the successful delivery of the first IMO 2020 compliant bunker load of low sulphur fuel oil.The company made its maiden delivery via its 6,000-tonne bunker barge at Fujairah, which will help serve the Port of Fujairah as well as adjoining ports...

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GP Global has completed the successful delivery of the first IMO 2020 compliant bunker load of low sulphur fuel oil.

The company made its maiden delivery via its 6,000-tonne bunker barge at Fujairah, which will help serve the Port of Fujairah as well as adjoining ports.

The company has three more barges at Fujairah, of which the largest will be dedicated exclusively for LSFO to meet the growing requirements in the region, expected from mid-October.

Anil Keswani, head of bunkering, East of Suez at GP Global, says: 'We are thankful to the authorities of the Port of Fujairah and our partners for their continued trust in us, which has enabled us to undertake the first bunkering of LSFO, just in time as the IMO 2020 takes effect next year.'



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Terminal News
September 27, 2019
Enterprise Products to expand Acadian natural gas system
Enterprise Products Partners will be expanding and extending its Acadian natural gas system to deliver growing volumes of natural gas from the Haynesville Shale to the LNG market in South Louisiana.The project comprises the construction of an 80-mile pipeline originating near Cheneyville, Louisiana on Enterprise's Acadian Haynesville extension to third party interconnects near Gillis, Louisiana and southeast Texas...

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Enterprise Products Partners will be expanding and extending its Acadian natural gas system to deliver growing volumes of natural gas from the Haynesville Shale to the LNG market in South Louisiana.

The project comprises the construction of an 80-mile pipeline originating near Cheneyville, Louisiana on Enterprise's Acadian Haynesville extension to third party interconnects near Gillis, Louisiana and southeast Texas.

The LNG export market for this region includes design send out capacity currently operating or under construction of 15 billion cubic feet per day. The Gillis Lateral will have a capacity of 1 Bcf/d.

Enterprise will also increase capacity on the Acadian Haynesville Extension by adding horsepower at its Mansfield compressor station in De Soto Parish. When completed, the expansion and extension project will increase the Acadian system's capability to transport Haynesville natural gas production from 1.8 Bcf/d to 2.1 Bcf/d. The project is supported by long-term customer contracts and is expected to begin service in mid-2021.

A.J 'Jim' Teague, CEO of Enterprise's general partner, says: 'The expansion and extension of the Acadian system enhances our capability to link supply to some of the most attractive markets in the US. Once this project is completed, our Acadian system will be able to deliver a total of 2.1 Bcf/d of Haynesville production into the LNG market, South Louisiana industrial complex and other interconnects that serve attractive southeaster US markets.'



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Terminal News
September 19, 2019
Iraq to expand export and storage capacity with new island
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 an extra three million barrels per day to the country's export capacity...

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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 an extra three million barrels per day to the country's export capacity. Currently, Gulf capacity is 3.6 million barrels per day for exports and 10 million barrels for storage.

According to Platts, the project includes building housing for 300 people on the island. The export terminal would be attached to it and will include four jetties with loading facilities for up to four VLCC vessels. The project also includes the construction of a breakwater berth and the extension of two offshore pipelines. The onshore terminal will be expanded to receive light and heavy oil that could be pumped to the new island for export.

The project is part of a strategy implemented by Iraq's Ministry of Oil to develop the country's national economy and increase financial revenues of the federal treasury.

Ministry spokesman Assem Jihad says: 'The industrial island will give Iraq high flexibility in the process of exporting and loading oil tankers, in addition to raising the storage and export capacity of southern ports.'

Ihsan Abdul Jabbar, director general of the Basra Oil Company, says that the creation of the industrial island will give a 'qualitative leap' and greater flexibility in future export capacities from the south, especially given that production from the company is increasing. 'We are working to keep pace with the expected increase in production and export operations,' he adds.

Boskalis says that within a year the company will prepare a detailed construction study before work starts. It is expected to take two years to complete.



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Terminal News
September 19, 2019
Storage capacity expansion at Ras Lanuf Port
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 will help prevent forced oil field shutdowns, especially during winter weather, which can disrupt port operations...

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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 will help prevent forced oil field shutdowns, especially during winter weather, which can disrupt port operations.

Additionally, the company is also preparing to construct and replace storage tanks number 4 and 12, which were damaged during military operations in 2016. The completion of these two tanks will further increase the capacity at Ras Lanuf tank farm.



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