Volume: 7
Issue: 5

Published:
November 14, 2011

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


Cheery traders turn teary

Eighteen months ago many of the futures contracts were in contango. Tank storage construction was booming and tank lease rates were increasing. The loss of Libyan crude oil production, coupled with other supply losses due to production problems, put Brent crude oil in backwardation. The Europe...


Blind faith

The refining system in the US has never been the most reliable thing in the world. Outside of the Arab Spring, the most instable part of fundamentals in the oil complex has to be the refining system. As almost everyone knows, Marathon Garyville was the last US refinery built in 1976, but what mos...


API update: 2011

Tank owners and operators have faced tank inspection requirements for many years, with increasing demands for tanks to be equipped with secondary containment. Now, more than ever before, the effort expended to run a profitable enterprise may just be approaching the breaking point for many smal...


Profile: Vopak Asia

In Asia, the sector show edits resilience in the face of two major challenges that Patrick van der Voort had to deal with as soon as he joined Vopak Asia, the Singapore-based subsidiary of the Dutch oil and chemicals logistics giant, in 2008. First, there was the potential threat of increas...


Asian storage still growing

There has been a noticeable increasein the number of companies entering the southeast Asian market to trade petroleum and chemical products overthe past two years. This trend is creating additional demand for storage as more international traders hold stocks in Singapore and other nearby co...


The search continues

As the completion of Jurong Rock Caverns (JRC) nears, an operator needs to be engaged to manage, operate and maintain the facility. Besides Jurong Aromatics Corporation (JAC), there have been discussions with other potential players to take up the available storage capacity at phase one of ...


Indian private ports become storage hubs

India’s Central Reserve Bank has estimated the country’s GDP will continue to grow at +7% from its earlier estimates of +8%, from 2012-2016. The growing economy will keep the import demand for crude oil, chemicals, edible oil and other liquid cargo buoyant. The country’s private ports...


Five steps to API 2350 compliance

Tank overfill incidents have resulted in loss of life and billions of dollars in damages to petroleum facilities worldwide. One of the worst incidents – the overflow of a petrol storage tank at Buncefield Oil Depot (UK) –has been traced to the failure of level control to maintain containme...


Total lightning protection

Lightning protection systems for floating roof petroleum storage tanks (FRTs) should do more than just intercept incoming lightning strikes, which are still likely to cause ignition of the tanks’ contents. A total FRT lightning protection system (LPS) should be designed to eliminate all ligh...


Adaptable actuation aids tank storage systems

Electric actuators provide automated intelligence to operate valves and help to maintain the functionality of tanks. Automation systems should be robust enough to withstand operation in extreme environments while offering essential safety features to provide the required resilience in performance. ...


Liners versus coatings

According to API, a coating is a liquid applied surface onthe outside of a storage tank and a liner is a liquid applied surface on the inside of a tank. However the definitions need further clarification in the evolution of emerging options. Geomembrane and new coating products have been...


Minimising movement

Kuwait Oil (KOC) has taken the initative to upgrade and stabilise the still pipe where its automatic tank gauge (ATG) is mounted and the official manual tank gauging (OMTG) still pipe used to verify the accuracy of the ATG. As a result, minimal or no vertical movement of the ATG mounting lo...


Wireless in Mexico

Wireless level gauging technology is a simple, yet affordable solution for monitoring product level and improving profitability. As one of the largest enterprises and highest fiscal contributors in Mexico, Petroleos Mexicanos (PEMEX) produces approximately two million barrels of crude oil a...