Apr 30, 2019   SOURCE: BusinessWire

Global Oil Storage - Major Trends That Will Impact the Oil Storage Industry Through 2023 - ResearchAndMarkets.com

The "Oil Storage: Global Markets Through 2023" report has been added to ResearchAndMarkets.com's offering.

The global demand for oil storage has now become a key component in both the economic and political environments due to the volatility in crude oil prices. Oil storage stocks are usually distinguished by three different types: primary, secondary and tertiary stocks. In all research carried out on oil storage, the last two types of stocks are usually ignored, and hence a lower volume of oil in storage is reported. However, this report has included the secondary and tertiary stocks, and in addition, has also quantified the oil stocks that are in transit plying the seas, plus those held onboard moored very large crude carriers (VLCCs) and used as storage for floating storage of crude oil. The global oil storage market along the entire value chain is bifurcated on the basis of reserve type into strategic/emergency and commercial/private sectors.

Oil markets entered a phase of backwardation in 2018 (whereby the future price of oil is below the spot price), which does not encourage anyone to store oil, at sea or on land, until contango (whereby the future price of oil becomes above the spot price) returns on a more permanent basis. The so-called supercontango (future oil prices are higher than spot prices) occurred in 2015, which spurred producers and speculators to fill and anchor a record 132 oil tankers, as trading firms were able to hire VLCC vessels for less than $40,000 a day, compared to spot rates of $60,000 to $70,000 a day.

This report covers:

  • 119 data tables and 30 additional tables
  • An overview of the global market for oil storage
  • Analyses of global market trends, with data from 2017 to 2018, and projections of CAGRs through 2023
  • Identification of applications of oil storage in petrochemicals, petroleum refining, residential and electric generation industry
  • Coverage of the products such as crude oil, natural gas liquids, ethane/LPG, naphtha, gasoline, gasoil/diesel and jet/kerosene
  • Discussion of the advantages and disadvantages of oil storage and commercialization issues and opportunities of the industry
  • Detailed profiles of major players in the industry, including Anadarko Petroleum Corp., Exxon Mobil Corp., General Electric Co., Kuwait Petroleum Corp., Oil and Natural Gas Corp. Ltd., Petrochina, Royal Dutch Shell Plc and Tetra Technologies Inc.

Key Topics Covered:

  • Summary and Highlights
  • Major Trends That Will Impact the Oil Storage Industry Through 2023
  • Demand for Oil Storage by Type
  • Demand for Oil Storage by Product
  • Demand for Oil Storage by Technology
  • Demand for Oil Storage by Reserve End-Use Application
  • International Markets
  • Industry Structure
  • Legislation and Regulation

Companies Mentioned

  • A & G Engineering
  • BP Oil Shipping Co.
  • BW Offshore
  • Chevron Corp.
  • CLH Group
  • ConocoPhillips
  • Core Laboratories N.V.
  • Devon Energy Corp.
  • ENI
  • Exxon Mobil Corp.
  • Gazprom
  • General Electric Co.
  • Halliburton Co.
  • Modec
  • OJSC Lukoil
  • Pertamina
  • Petrobras
  • Petrochina
  • PKG Equipment Inc.
  • Qatar Petroleum
  • Rosneft
  • Royal Dutch Shell Plc
  • RPC Inc.
  • Schlumberger Ltd.
  • Sonatrach
  • Teekay Corp.
  • Total S.A.
  • Vopak
  • Vortexa

For more information about this report visit https://www.researchandmarkets.com/r/xg88md