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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]
A 5,000-gallon tank would usually be installed on an estate numbering up to 50 or 60 properties, although they ranged from a low of about 12 up to a high of in the thousands. The majority of tanks were situated above ground in an elevated position. This meant the oil could flow into each house under the influence of gravity.
On January 2, 1988, a four-million gallon tank was used for the first time after being dismantled (from an Ohio location) and rebuilt in Pennsylvania. It was this tank, holding approximately 3.5 million gallons of diesel oil , that failed and collapsed, dumping nearly 1 million gallons of the oil into a storm sewer that led to the Monongahela ...
Salvagers abandoned an initial effort to tow away a burning oil tanker in the Red Sea targeted by Yemen's Houthi rebels as it “was not safe to proceed,” a European Union naval mission said ...
The concept started to be used by oil traders in the market in early 1990. [2] But it was in 2007 through 2009 that the oil storage trade expanded. [6] Many participants—including Wall Street giants, such as Morgan Stanley, Goldman Sachs, and Citicorp—turned sizeable profits simply by sitting on tanks of oil. [5]
Rubber fuel tanks have been viable technology for cars since the late 1950s, [5] but few manufacturers have adopted them. In 1962, 10,000 gallon flexible tanks made of neoprene rubber were used to store fuel oil in Antarctica. Each tank weighed 750 pounds and could be folded up into a volume of 125 cubic feet.