4 January 2010
Oil market contango keeps US tank terminals at capacity
With the oil market in contango, traders have a strong incentive to put crude and refined products into storage, which is good news for tank-farm operators, writes Anne Feltus
IT IS A GREAT time to be in the US oil terminalling business. Tank farms across the country are bulging with crude oil and petroleum products as a result of almost unprecedented demand for storage capacity. By late October, oil inventories had risen to volumes almost 30% higher than the same period in 2008, according to the government's Energy Information Administration (EIA), and distillate stockpiles had reached their highest level in almost 30 years. A combination of forces has been working to the terminal owners' advantage. With several large discoveries in the deep-water Gulf of Mexico (GOM) coming on stream (PE 12/09 p19), the EIA projects total domestic oil production for the year
Also in this section
20 February 2026
The country is pushing to increase production and expand key projects despite challenges including OPEC+ discipline and the limitations of its export infrastructure
20 February 2026
Europe has transformed into a global LNG demand powerhouse over the last few years, with the fuel continuing to play a key role in safeguarding the continent’s energy security, Carsten Poppinga, chief commercial officer at Uniper, tells Petroleum Economist
20 February 2026
Sempra Infrastructure’s vice president for marketing and commercial development, Carlos de la Vega, outlines progress across the company’s US Gulf Coast and Mexico Pacific Coast LNG portfolio, including construction at Port Arthur LNG, continued strong performance at Cameron LNG and development of ECA LNG
19 February 2026
US LNG exporter Cheniere Energy has grown its business rapidly since exporting its first cargo a decade ago. But Chief Commercial Officer Anatol Feygin tells Petroleum Economist that, as in the past, the company’s future expansion plans are anchored by high levels of contracted offtake, supporting predictable returns on investment
