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Oil Storage Group Vopak Cuts Growth Investments Guidance after Q3 Beat

Dutch oil and chemical storage company Vopak reported on Friday a profit beat for the three months to September but lowered its full-year guidance for growth investments. The group, which runs tank terminals worldwide, said its growth investments should reach about 275 million euros ($314.57 million) in 2021, down from the range of 300 million [...]

November 28th, 2021|Fuel Storage, Rotterdam storage, Storage News, Tank storage, Tank Terminal|

Several Rotterdam Terminals to Be Ready for Hydrogen Imports by 2025

In the Port of Rotterdam, the first companies are busily preparing for the storage, processing and transit of hydrogen: a promising energy carrier that will allow companies to make the transition to climate neutrality. Tank terminals at Europoort This is one of the findings of a study conducted by the Port Authority into the development [...]

November 28th, 2021|Fuel Storage, Rotterdam storage, Storage News, Tank storage, Tank Terminal|

VTTI to Close Antwerp Bitumen-Producing Refinery

Terminal owner VTTI is to close its bitumen-producing ATPC refinery in Antwerp, Belgium, stoking concerns about supply of the road-paving product after a string of recent capacity terminations.   Trading firm Vitol, which supplies feedstocks to and markets bitumen from the refinery, said today it had been “notified by VTTI of its intention to close [...]

October 28th, 2021|Fuel Storage, Rotterdam storage, Storage News|

New Terminals to Boost Storage Capacity

LNG import terminals, to be built in 12-15 months, will help cope with gas crisis Pakistan is all set to install two more liquefied natural gas (LNG) import terminals over the next 12-15 months to deal with the ballooning gas crisis after the government approved connection of the terminals with transmission and distribution network from [...]

October 14th, 2021|Fuel Storage, Storage News, Tank Terminal|

Port of Fujairah Expecting Record Throughput for Liquid Bulk in 2021

The Port of Fujairah, the world’s third-biggest bunkering hub, is expecting a record year in throughput for its liquid bulk volumes as the facility continues to grow its services and terminals boost their operations, its business development manager said Sept. 28.   “Liquid bulk is outperforming our expectations,” Martijn Heijboer told the Fujairah APPEC virtual [...]

October 5th, 2021|Fuel Storage, Storage News|

Oil storage group Vopak’s profits hit by one-off charge, shares slump

Dutch oil storage company Vopak (VOPA.AS) on Wednesday reported second-quarter net profit that missed market expectations, after taking an impairment related to its terminal in Panama, sending its shares down nearly 8%. The group, which operates storage terminals around the world, reported net profit of 76.1 million euros ($89.86 million) in the three months to [...]

August 4th, 2021|Fuel Storage, Rotterdam storage, Storage News, Tank storage, Tank Terminal|

New Tank Farm for Ust-Luga

A new tank far is to be built on the territory of the condensed gas terminal in the port of Ust-Luga in the Russian Baltic. The Main Department of State Expertize has approved the project documentation and engineering studies for the first stage of the project. The project envisages building four steel tanks with a [...]

July 21st, 2021|Fuel Storage, Tank Terminal|

Rocket Hits Crude Oil Storage Tank at Trans-Israel Pipeline: Reports

London — A fire broke out at the Trans-Israel or Eilat-Ashkelon pipeline in Ashkelon, Israel, after a rocket from Gaza hit a crude oil storage tank on May 11, according to local media reports. Violence has escalated in recent days, with rockets fired at Israeli cities from the Gaza Strip and the Israeli military carrying [...]

May 16th, 2021|Fuel Storage, Storage News, Tank storage, Tank Terminal|

U.S. LNG Terminals Seen Running at Full Capacity Through Summer to Meet Global Demand

It’s shaping up to be a drastically different summer for U.S. liquefied natural gas (LNG) exporters as the global market has unexpectedly tightened and demand has spiked in a reversal of fortunes from last year when trade slumped to historic lows.   “Things changed a lot,” said Rystad Energy’s Carlos Torres Diaz, head of gas [...]

May 3rd, 2021|Fuel Storage, Storage News, Tank storage, Tank Terminal, US Terminals|

Report: Saudi Aramco Puts LNG Shipments from Sempra Project in Texas on Hold

The economic downturn has taken a toll on the liquefied natural gas sector.   A little more than two weeks after Sempra Energy announced it was delaying a final decision whether to construct a massive LNG facility on the Gulf Coast of Texas because of the global slowdown, Reuters has reported Saudi Aramco has suspended [...]

May 27th, 2020|Fuel Storage|
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