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Loading an oil tanker consists primarily of pumping cargo into the ship's tanks. [101] As oil enters the tank, the vapors inside the tank must be somehow expelled. [101] Depending on local regulations, the vapors can be expelled into the atmosphere or discharged back to the pumping station by way of a vapor recovery line. [101]
In 2015, global capacity for oil storage was out-paced by global oil production and an oil glut occurred. Crude oil storage space became a tradable commodity with CME Group— which owns NYMEX— offering oil-storage futures contracts in March 2015. [3] Traders and producers can buy and sell the right to store certain types of oil. [3]
An external floating roof tank is a storage tank commonly used to store large quantities of petroleum products such as crude oil or condensate. It consists of an open- topped cylindrical steel shell equipped with a roof that floats on the surface of the stored liquid. The roof rises and falls with the liquid level in the tank. [1]
Enbridge crude oil tank farm has a maximum storage capacity of 20,060,000 barrels (3,189,000 m 3) (2010) The stairs give a relative perspective of the size of the massive storage tanks in Cushing. Cushing serves as a transshipment point for gathering crude oil from all directions.
An oil terminal (also called a tank farm, tankfarm, oil installation or oil depot) is an industrial facility for the storage of oil, petroleum and petrochemical products, and from which these products are transported to end users or other storage facilities. [1]
COT – crude oil tanks. PIT – product and intermediate storage tanks. DISPATCH – dispatch area tanks. UTILITIES – tanks in a power plant area, for storage of water, etc. ISBL – inside-battery-limit tankages. These are usually small tanks found in the production units of a refinery, such as neutralization tanks, water tanks, etc.