Oil storage

Flotilla of Oil Tankers Flock To The Seas To Act As Temporary Storage

  • Tankers everywhere are acting as temporary storage capacity.
  • A small flotilla of tankers full of crude is idling near the busy shipping lanes.
  • They are a potential source of oil price volatility for months to come.
  • The reasons for most of this expensive excess storage is obvious: the global supply glut.
  • Tankers carrying enough crude to satisfy 20% of the world’s daily consumption gathered off the California coast.
  • The eventual unloading of all of these floating supplies will have a significant...

https://mfame.guru/flotilla-of-oil-tankers-flock-to-the-seas-to-act-as-temporary-storage/

Fujairah’s Oil Inventories Soared To 30.262 million Barrels!

According to Platts data, oil product inventories in the United Arab Emirates’ (UAE) Fujairah bunkering and oil hub in the Middle East jumped to record highs in the week to May 18, reports Reuters.

Fujairah oil product inventories 
  • Fujairah’s overall oil product inventories soared to 30.262 million barrels in the week to May 18, above the previous record of 27.859 million barrels in the week before.
  • Inventories for middle distillates and those for residual fuels also rose to records in the week...

https://mfame.guru/fujairahs-oil-product-inventories-soared-to-30-262-million-barrels/

The Economics of Storing Oil – How Filling Up Old Tankers Work?

15422004 – large oil shipping tanker on the horizon in the caribbeanStorin

In yet another example of the world economy shell game coming to a hard stop amid the coronavirus pandemic, oil is incredibly cheap as demand plummets and speculators panic sell and even pay others to store it in a desperate bid to never actually possess the barrels they bought on paper, writesJordan Pearson    in an article published in Vice.com

IMAGE: FLICKR/BERNARD SPRAGG. NZ

The Economics of Storing Oil The ship

T...

https://mfame.guru/the-economics-of-storing-oil-how-filling-up-old-tankers-work/

Thriving LNG Bunkering, Oil Storage and Refining at Fujairah

Insight presents a series of articles exploring aspects of the global trade in crude oil and refined products. In the final instalment, Dania EL Saadi reports on developments at the UAE’s port of Fujairah, a key bunker hub with ambitions to rival Rotterdam and Singapore.

Accidents at the Oman Gulf

The Middle East bunkering hub of Fujairah may have been rattled by the recent tanker attacks in the Gulf of Oman, but officials are adamant that it will be business as usual, as the port and...

http://mfame.guru/thriving-lng-bunkering-oil-storage-and-refining-at-fujairah/