New York, NY -- (SBWIRE) -- 05/14/2019 -- Summary:
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 (i.e., secondary and tertiary) 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 on board 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.

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The manufacturers covered in this report
A & G ENGINEERING, BELCO MANUFACTURING CO. INC., BUCKEYE FABRICATING CO., COLUMBIAN STELL TANK CO., CONTAINMENT SOLUTIONS INC., L.F. MANUFACTURING INC., PKG EQUIPMENT INC., POLY PROCESSING CO. LLC, RED EWALD INC., SYNALLOY CORP. (SYNL: NASDAQ), ZCL COMPOSITES INC., BRITISH PETROLEUM (BP) PLC, CHEVRON CORP., EXXON MOBIL CORP., ROYAL DUTCH SHELL PLC, TOTAL S.A., ANADARKO PETROLEUM CORP., APACHE CORP., CHESAPEAKE ENERGY CORP., CONOCOPHILLIPS, DEVON ENERGY CORP., EOG RESOURCES INC., MARATHON OIL CORP., OCCIDENTAL PETROLEUM CORP

It is normal practice for oil companies to build up stores of crude oil and refined products to carry out their activities, and also to meet expected changes in seasonal demand and as a buffer to any interruption of supplies. For instance, American refineries buildup stocks of winter heating oil during the summer and autumn, which are stored on barges. In 2014, barges on the Hudson River delivered 20 million barrels of oil or 70% of the home heating oil to the port areas of New York and Boston for onward distribution to retailers' storage tanks and subsequent delivery to customers in the region. Commercial and private operators use oil storage facilities to either supply the market or to export their production.

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Oil Storage by Type of Reserve:
- Commercial Oil Storage Reserve
- Strategic Oil Storage Reserve

Oil Storage by Type of Stock:
- Primary Stocks
- Secondary Stocks (Wholesalers and Distributors)
- Stock in Transit and Floating Storage Stocks
- Tertiary Stocks (End Users)

Oil Storage by Type of Market Player:
- Oil Strategics (Integrated Oil and Gas Companies)
- Independent Oil Terminal Storage Players
- Trading Houses
- Oil Refiners
- National Oil Companies (NOCs)
- Seaborne Oil Tanker Companies
- Independent Oil and Gas Companies
- Governments

Global Oil Storage by Type of Location Along the Supply Chain Infrastructure:
- The Crude Oil Supply Chain Infrastructure
- Upstream
- Midstream
- Downstream

Oil Storage by Type of Cluster:
- Terminals
- Countries
- Tank Terminal Oil Storage Density
- Country Oil Storage Density

In market segmentation by Region, the report covers:
- North America
- China
- Europe
- Southeast Asia
- Japan
- India

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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 the very large crude carrier (VLCC) vessels for less than $40,000 a day, compared to spot rates of $60,000 to $70,000 a day."

Report Includes:
- 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 compound annual growth rates (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 (NGLs), 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.

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