Vopak reports it is fully operational
Tank storage firm Vopak has said in an online statement that all its terminals are operational amid the COVID-19 pandemic. The Dutch oil and chemical storage company said it has seen limited impact from the coronavirus outbreak so far. It did add a note of caution though and said that this situation may change going […]
Crude oil falls below zero for the first time since 1946
The price on the futures contract for West Texas crude fell into negative territory yesterday (April 20, 2020), at minus $37.63 a barrel. In fact Bloomberg has reported that sellers were actually paying buyers to take the crude off their hands. Michael Tran, Managing Director of global energy strategy at RBC Capital Markets, said: “There […]
Five-year distribution agreement signed between Reynolds and Petro Industrial
Petro Industrial Pty Ltd, which is an international commercial refuelling specialist, has signed a five-year distribution agreement with Reynolds Contamination Control. Petro Industrial designs, manufactures, installs and commissions self-bunded storage tanks and tank farms, containerised lube stores, and equipment to offload and dispense hydrocarbon-related products. Petro Industrial will integrate Reynolds’ cloud-based Link monitoring system into […]
