Volume: 8
Issue: 3

Published:
April 30, 2012

Tank Storage Magazine

Tank Storage Magazine is the leading industry publication dedicated exclusively to the bulk liquid storage industry. It is read by terminal managers, senior engineers, logistics/distribution managers and CEOs within oil, gas and petrochemical facilities as well as third party terminal operators.



Headlines


Common REACH mistakes

The EU REACH regulation may have been in force for several years, but still many companies are confused about how to comply with it. It does not help that some of the legal text and official guidance is unclear on some key issues. Small- and medium-size enterprises (SMEs) are especiall...


Storing oil products on the equator

In contrast to the extreme cold temperatures experienced at the IMTTQuebec oil and chemical storage terminal where the winter temperature has been -36Ë


Oil futures forward curves: recent developments and outlook

Forward curves and demand for tank storage capacity are indisputably linked. A so-called contango term structure on the futures exchanges stimulates traders to hold inventories, whereas a backwardated term structure stimulates traders to minimise stocks to a level which is only limited to what...


Why infrastructure funds invest in storage

The rise of infrastructure funds in recent years has been driven in part by institutional investors with long-term liabilities, such as pension funds and insurance companies, searching for investments with longterm, stable cash yields, ideally with protection from inflation through adjustment ...


e Chemical resurgence

Natural gas prices, which slumped to a 10-year low in April, may be bad news for refiners, but have prompted something of a resurgence in the chemical sector. Over the last few years dismal demand, burgeoning costs and faltering consumption levels have led to an increased number of pro...


Multiple reasons for growth

US crude oil storage capacity will increase by 8% in the four years leading to 2015, an average of 2% per annum, according to GlobalData. Refined petroleum storage will advance by 2.5% over the same period. As recently as February this year, Buckeye Partners announced that its subsidia...


Three fundamental roadblocks to a thriving organisation

The great majority of the problems that leaders face revolve around three fundamental areas: 1) Incompetencies 2) Inefficiencies 3) Complacencies. Organisations that take these three areas seriously and develop intentional and strategic initiatives to deal with each of these will g...


Mixer selection guide

One challenge for the global refining industry is the ever changing market conditions; trapped between hard to process, poor quality (although less expensive) opportunity crudes and light crude oil refining. The aforementioned segments of the petroleum industry involved with abovegroun...


Cutting-edge safety

The conventional method for dismantling or repairing petroleum storage tanks is to cut them apart with oxyacetylene torches and handheld gouges. Sound a little hazardous and time consuming? US-based leak detection expert Mass Technology thought so too. In 2007 the company launched its ...


Controlling lightning damage at transfer stations

For one company lightning had been a major issue, especially considering many of its facilities are located along the Gulf Coast. Its facilities are located in open areas along rivers and canals, and therefore are very susceptible to direct and nearby lightning strikes. Company personn...


re Recommendations for reducing risk

According to a review of petroleum storage tank fires between 1951 and 2003, the number of tank fires reported in the worldwide media is in the range of 15 to 20 fires per year. The extent of the tank fire incidents varied considerably, ranging from a rim seal fire to multiple, simulta...


Building tanks for biofuels

Second generation biofuels, or biofuels produced from biomass non-food feedstocks, are finally getting close to commercial reality. And as production grows out of pilot scale, tanks are required to store the end product. After great success with a pilot scale plant and then a 400 time ...


New specifications about electrical conductivity

For each member country, EN standards are adopted into a national version. Since 1999, the German EN 12115 version has required that OHM hoses would need electrical conductivity through the hose wall (maximum electrical resistance 109 Ω). This now has been universally adopted in the standard....


What goes in, must come out

Vapour recovery systems are a common item throughout the world today at distribution terminals in any operation involving the transfer of products, ranging from petrol to BTX products and increasingly crude oil. Indeed some of the largest vapour recovery units (VRUs) in the world are u...


Joint effort needed for large dome project

Last year the Oilhub Korea Yeosu Co. (OKYC) embarked on one of the largest ever aluminium geodesic roof projects to be awarded in one contract. The OKYC Greenfield project is a joint venture between Oiltanking and Korean National Oil Company (KNOC). The contract consisted of 36...