Tanks & Terminals - 2015 - page 18

India
Local industry officials have said that India should take
advantage of the collapse in global oil prices by expanding its
storage capacity and securing deals to stockpile crude for
producing countries. Unlike China, India has been slow in
building up its strategic petroleum reserves, with just one
terminal in Andhra Pradesh state and two in Karnataka. Plans for
another four bases are still on the drawing board at Bikaner in
Rajasthan, Rajkot in Gujarat, Padur in Karnataka and
Chandikholein Odisha.
Industry association Assocham said the government and the
country’s oil companies should speed up as well as expand their
stockpiling programme with Brent crude prices now trading at
less than US$50/bbl. “It is once in several decade opportunity
for India to scale up its strategic oil reserves,” Assocham said.
Given the long lead time needed to expand oil stockpiles, it
urged the Indian government and the refining industry to
‘aggressively’ explore opportunities to develop new storage
facilities. The Indian government said it has begun talks with its
Middle Eastern counterparts to store crude oil for state owned
Saudi Aramco, Kuwait Petroleum Corporation (KPC) and
Abu Dhabi National Oil Company (ADNOC).
At last November’s G20 meeting in Brisbane, Australia, Saudi
Arabia’s deputy premier, Crown Prince Salman bin Abdulaziz
Al Saud, discussed with Indian Prime Minister Narendra Modi
the possibility of investing in oil storage projects in the Asian
country. Their talks built on an earlier meeting between
Oil Minister Dharmendra Pradhan and his Saudi counterpart,
Ali al-Naimi, with the Middle Eastern state supplying about 20%
of India’s oil imports. While India wants to raise its stockpile
level to meet 90 days of consumption, Saudi Arabia is looking
for additional outlets for its crude oil to hedge against falling
prices. Saudi Aramco has a long term agreement to store crude
oil in Japan for free in return for guarantee of supply for the
host nation during emergencies.
Australia
Caltex is planning further expansion of its fuel storage capacity
in South Australia state, barely a year after adding an 85 million l
terminal at Pelican Point in Adelaide. The Chevron subsidiary
said it is looking to add 135 million l of new capacity at a later
date to help meet the state’s growing demand for gasoline,
diesel and biodiesel. The current AUS$100 million terminal is
designed to accommodate ships up to 300 m long weighing
80 000 deadweight t. Two pipelines linking the berth to the
105 million l terminal has the capacity to deliver 2.6 million l/h
of fuel.
“This investment adds significant new storage to the
Adelaide fuel supply chain and the deeper berthing facilities we
need to accommodate larger ships,” Caltex said. “Storage and
shipping capacity constraints have contributed to a number of
fuel shortages across South Australia, especially following
weather related disruptions to shipping movements into Port
Adelaide.”
Last year, the company converted its 58 year old refinery in
Kurnell in Sydney into a fuel import and distribution terminal. It
said the 124 500 bpd refinery was no longer able to compete
against larger and more modern refineries in Asia and the
Middle East.
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