Tag: crude price

Saudi Aramco’s production U-turn will not hit the demand for oilfield services and equipment in the kingdom, analysts have said.

Shares of major oilfield services companies dropped last week after Aramco, the world’s largest oil exporting company, scrapped plans to boost production capacity to 13 million barrels per day by 2027, from 12 million bpd currently.

Analysts say Aramco’s decision may have been influenced by factors such as escalating costs of developing new projects, ample spare capacity and weakening demand outlook for crude amid growing adoption of renewable energy and electric vehicles.

At the moment, Saudi Arabia is only producing 9 million bpd as part of Opec+ supply cuts aimed at stabilising the oil market.

The announcement comes as oilfield services companies, which assist energy producers in drilling new oil and gas wells, are increasingly turning to the Middle East region to drive future growth, especially with the US shale sector facing a slowdown.

Analysts say Aramco will most likely defer expansion projects at the Safaniya and Manifa offshore oilfields in the Arabian Gulf. The company did not immediately respond to a request for comment.

Safaniya, 200km north of the city of Dhahran, is the world’s largest offshore oilfield in terms of recoverable resources.

Aramco was close to selecting preferred bidders for two large onshore engineering, procurement, and construction (EPC) contracts at Safaniya, worth $5 billion, according to media reports last month.

Several oilfield services firms have a large exposure to the kingdom’s jack-up rig market. These rigs are used to drill wells in shallow waters.

“We think the market overreacted and the jack-up rig count will likely remain stable to modestly up in 2024, and other projects, including Marjan, Berri and Zuluf, will continue to move forward,” said James West, senior managing director at Evercore ISI.

Saudi Arabia was deploying 88 rigs as of January, up from 79 in the same period last year, according to Baker Hughes data.

Aramco, which plans to increase the Marjan and Berri fields’ output capacity by 550,000 bpd by next year, may adjust its capital expenditure target lower or increase spending on natural gas, Mr West said.

Aramco has said it would update its capital spending guidance when its full-year 2023 results are announced in March.

The company’s capital expenditure numbers have consistently increased over the past few years amid a growing focus on downstream operations and gas production.

Before reducing its output target, Aramco was expecting its capital expenditure for last year to be in the range of $45 billion to $55 billion, up from $37.6 billion in 2022. It stood at $31.9 billion in 2021 and $26.9 billion in 2022.

“We remain confident the long-duration offshore and international upcycle will continue and drive significant growth opportunities for oilfield services companies in 2024 [and beyond],” Mr West said.

The Big Three of oilfield services – Schlumberger, Halliburton and Baker Hughes – recorded strong fourth quarter results, with higher oil prices boosting drilling activity in the US and international markets.

The companies are optimistic about the Middle East, where several national oil companies are planning to significantly increase their production in the next few years.

Schlumberger, whose shares fell nearly 10 per cent following Aramco’s announcement on January 30, said it was working “very closely” with the state-run energy giant and that, as per its understanding, only two offshore oil expansion projects that have not yet begun would be suspended.

“Our forecast for significant growth for 2024 in the kingdom remains intact,” said Olivier Le Peuch, the company’s chief executive.

“The combination of our revenue mix in the kingdom, which is weighted toward onshore and the expanding gas market, and our unique market position in other countries in the Middle East will continue to support the multi-year growth cycle in the region.

“Global energy demand continues to increase, and international production is expected to play a key role in meeting supply through the end of this decade.”

Halliburton and Baker Hughes declined to comment.

Expansion plans

Meanwhile, other Middle Eastern countries are pressing forward with plans to increase production.

UAE’s Adnoc is investing in its major onshore and offshore oilfields to increase crude production to 5 million bpd by 2027. The Abu Dhabi-based energy company also aims to reach gas self-sufficiency by 2030.

Kuwait plans to bring its oil production up to 3.2 million bpd by next year and 4 million bpd by 2035. It also aims to double its gas production in the longer term.

To achieve these goals, the Gulf country plans to invest $43 billion in oil and gas projects until 2027.

Iraq, Opec’s second-largest producer, is looking to boost its output to 7 million bpd by 2030.

“We saw several final investment decisions [in Iraq] last year and two new bid rounds opened,” said Alexandre Araman, principal analyst, Middle East upstream, at Wood Mackenzie. “Gas is also a priority with aggressive growth target, mainly thanks to projects to capture flared gas.”

Iraq remains the second-biggest country in terms of flaring after Russia, Mr Araman told The National.

By Thenationalnews / John Benny, 02.07.2024

State oil giant Saudi Aramco is in investment discussions with companies in India, a senior executive said on Wednesday. 

“Hopefully we will see some announcements soon on investment in Indian companies,” Faisal Faqeer, senior vice-president, liquids to chemicals development, downstream, at Saudi Aramco, told delegates at the India Energy Week in Goa, without specifying its plans.

The world’s largest crude oil exporter and OPEC kingpin has been boosting its investments in refining and petrochemicals across Asia to secure new markets for its crude, as it sees growth in chemicals central to its downstream expansion strategy.

The world’s largest crude oil exporter and OPEC kingpin has been boosting its investments in refining and petrochemicals across Asia to secure new markets for its crude, as it sees growth in chemicals central to its downstream expansion strategy.

In 2018, Saudi Aramco and Dhabi National Oil Company (ADNOC) joined a consortium of Indian state-run firms to set up a 1.2 million barrels-per-day (bpd) coastal refinery and petrochemical plant in western Maharashtra but the project has faced land acquisition challenges.

Saudi Arabia is pumping around 9 million bpd, well below its roughly 12 million bpd existing capacity after it cut production as part of an agreement with OPEC and its allies last year.Reuters reported last year that India, the world’s third largest oil importer and consumer, had wanted Saudi Arabia’s Aramco to participate in its planned strategic petroleum reserve(SPR) programme to strengthen ties with its key oil supplier.

By Reuters / Sethuraman NR and Nidhi Verma,  February 6, 2024

Exxon Mobil Corp. and Chevron Corp. are generating returns not seen since their heyday over a decade ago, with $58.7 billion handed to shareholders last year and more to come in 2024, even if crude prices drop. And yet, they’re struggling to compete in a stock market beholden to Silicon Valley. 

Chevron hit record production in 2023 while buying back 5% of its stock and forecasts oil and gas growth of as much as 7% this year, led by low-cost barrels from the Permian Basin. It was rewarded with a 3% bump in its shares Friday, slightly better than Shell Plc’s gain a day earlier. Exxon, which is gushing cash from the fast-growing oil discovery in Guyana, fell 0.4%. 

Their stellar operational performance wasn’t enough to prevent them slipping further behind tech giants Meta Platforms Inc. and Amazon.com Inc., which surged 20% and 8% respectively. Meta, which already trades twice the price-to-earnings ratio of the oil giants, added $197 billion to its market value as it lifted buybacks and introduced a dividend. The owner of Facebook, Instagram and Whatsapp is now three times the size of Exxon. 

“We are an essential industry to the global economy, an industry that’s been around for a long time and will be around for a long time in the future,” Chevron CEO Mike Wirth said on Bloomberg TV, adding that the company has increased its dividend for 37 consecutive years. “There’s a real value opportunity here for patient shareholders.” 

The US is now the world’s biggest oil producer, pumping about 45% more than Saudi Arabia, in large part due to Exxon and Chevron’s frenetic drilling in the Permian Basin of Texas and New Mexico. And it’s a commodity still in high demand despite efforts to transition away, with consumption expected to rise through 2030 and perhaps beyond. But investors don’t seem to care. Energy makes up just 3.7% of the S&P 500 Index. 

“It should be a signpost flashing green,” said Jeff Wyll, a senior analyst at Neuberger Berman, which manages about $440 billion. “How much smaller can the sector get given its importance in the global market?” 

Equity investors appear to be sending a clear message that Big Tech is the future, and Big Oil is the past. They’re not wrong. Artificial intelligence and cloud computing offer decades of potential profit growth while the transition to lower carbon energy poses an existential threat to the oil majors. The cyclical nature of oil prices, and dependence on curtailed supply from Saudi Arabia to prop up the market, mean investors view oil companies’ cash flows as more volatile than their rivals in tech. 

“For the sector to trade at a higher multiple, the investors need to view oil as moving back into an era of scarcity,” Wyll said. “We may be there in a few years, but we’re not there now.” 

Exxon and Chevron are determined to build their business to withstand such swings, as they have done throughout their more than 140-year histories. Both companies are investing heavily in Guyana and the Permian, where oil can be pumped profitably at less than $35 a barrel, some $40 below current prices. Refining and petrochemicals provide natural hedges to oil while Exxon is expanding trading to boost profits. 

It may be good business, but it’s a hard sell in this market, said Dan Pickering, founder and chief investment officer of Pickering Energy Partners.

“Meta announced a share repurchase authorization that’s essentially the size of Devon plus Diamondback. That makes people look,” Pickering said in an interview. “Chevron says, ‘We’re doing good in the Permian.’ That doesn’t make people look.”

And like all commodity markets, too much success can lead to their downfall. By growing Permian production by around 10% this year and next, Exxon and Chevron are adding to global supplies that risk outpacing demand. It also risks stealing market share from the Saudis, who crashed prices to flush marginal suppliers out of the market in 2014 and 2020. 

For Wirth, those risks are real. 

“We’re very committed to capital discipline through the cycle,” he said. “It’s an industry that at times hasn’t necessarily exhibited that, and I think it’s important our company and other companies remember the lessons of commodity markets.

by Bloomberg , Kevin Crowley / February 05, 2024

The South Asian nation has set in motion a building blitz at its oil refineries to raise production of traditional transport fuels.

The world is on the cusp of what’s likely to be the last big refining boom as India embarks on a capacity expansion to accommodate the country’s rising thirst for fossil fuels.

The South Asian nation has set in motion a building blitz at its oil refineries to raise production of traditional transport fuels such as gasoline and diesel, which could lift capacity by more than 20% over the next five years. Rystad Energy puts the cost of additions at around $60 billion.

It’s a rare boost for a global refining industry that’s in a state of decline in the US and Europe, while China’s massive sector is adjusting to Beijing’s green goals after years of development made it a processing powerhouse. By contrast, India’s growing transport demand and the slower adoption of electric vehicles will keep appetite for gasoline and diesel higher for longer.

“Expansions in the West are non-existent,” said Giovanni Serio, Vitol Group’s head of research. “Expansions continue to be based in the areas where demand is growing. India is the one where we see the continuation of a trend of growth of over 200,000 barrels a day between now and the next four or five years.”

India’s refining capacity is projected to increase by 56 million tons by 2028, Junior Oil Minister Rameswar Teli said last month, without elaborating. That equates to an overall capacity boost of 22%, or 1.12 million barrels a day.

The government has not provided details of how it will reach those lofty levels. By Bloomberg calculations, state-run refiners have announced about 50 million tons of expansions that could fit Teli’s timeline. Projects that account for almost 37 million tons have commissioning dates from 2024 to 2026, but completion of the remaining capacity remains unclear and includes planned additions that are under execution and a consideration stage.

The biggest is at Indian Oil Corp.’s Panipat plant in Haryana state, which is adding 10 million tons and is due to be commissioned at the end of next year. Hindustan Petroleum Corp.’s new Barmer refinery in the northwestern state of Rajasthan is the next largest at 9 million tons. Development is expected to be completed in 2024, with the facility to run at full capacity by 2025.

Smaller expansions are being conducted at the Visakhapatnam and Gujarat refineries, and the Barauni plant at Begusarai city in Bihar state.

Still, Vitol’s Serio says 56 million tons is not an absurd number. “Having said that, I think from our standpoint, when we look at the probability of these projects, we see roughly half of that more likely right now.”

State-run refiners will likely have to shoulder most of the responsibility. Reliance Industries Ltd. — the biggest private oil processor and owner of the giant Jamnagar complex — is seeking to replace gasoline and diesel with clean fuels to take advantage of a transition toward greener energy.

“India has been a laggard in adding new refinery capacity in the past, which requires some catch up if it wants to be more self-sufficient,” said Sushant Gupta, an oil analyst at Wood Mackenzie. The consultant sees the nation’s demand growing 1.3 million barrels a day by 2030.

The Asian nation is not only meeting its own demand requirements, it’s also playing an important role shipping fuels to other regions such as Europe after Russia’s invasion of Ukraine disrupted supply, most notably for diesel.

“Good opportunities are building up for exports,” said Kumod Kumar Jain, senior vice president of downstream research at Rystad Energy. “In Europe, a lot of refineries are getting closed and that’s what everybody in the market is trying to capture.”

The International Energy Agency estimates that India will add 1 million barrels a day of capacity over the six years to 2028, taking processing to 6.2 million barrels a day — a 19% increase to total refining. China is adding more daily volume but the overall capacity boost is 8%. The Middle East is around 9%.

While the percentage gain is big, India’s refining industry is still dwarfed by most other countries including the US and Europe, which are trimming capacity. China’s sector is over three times larger.

India’s planned additions include petrochemical complexes, but most of the capacity will be for transport fuels. The nation’s overall refining capacity was almost 254 million tons as of April 1, 2023, according to government data.

“Given that India is still a developing economy, it makes sense for the country to still focus heavily on traditional fuels investments while at the same time, putting in some groundwork for green energy transition,” said Dylan Sim, an oil analyst at FGE.

India also has plans to boost liquefied natural gas capacity and still heavily relies on coal for power generation, but the country is seeking to be part of the energy transition and has set itself a net-zero goal by 2070.

By Moneyweb / Rakesh Sharma and Sharon Cho, 4 Feb 2024

The Biden administration, under its view that climate change is an existential threat, has taken action on an LNG dilemma. On January 26, 2024 President Biden paused all approvals to permit new LNG export projects.

The U.S. Department of Energy (DOE) says it needs to update its approval process which includes domestic supply, energy security, and greenhouse gas (GHG) emissions. The order calls for a pause that is temporary and will be followed by a period for public response, and will not likely be resolved until after end-of-year elections. This has caused consternation within the oil and gas industry. Here are some facts that may clarify the government’s actions.

Leaky footprint of natural gas and LNG.

When oil and gas are around, methane leaks abound – from wellheads, storage tanks, pipelines, and refineries. This is important to the U.S. government because methane heats the atmosphere up to 80 times more than its big greenhouse gas sister, CO2.

The UN highlighted worldwide methane emissions in a comprehensive report. Worldwide, 60% of methane emissions come from man-made sources. Fossil fuels contribute a third of this (20%) and oil and gas makes up two-thirds of that (13% of total man-made methane emissions). An independent estimate is 7%. Oil and gas is only responsible for 7-13% of all global methane emissions. But methane’s warming effect on the atmosphere is disproportionately high, causing 25% of global warming, according to EDF.

For comparison, in the U.S. oil and gas is responsible for about 30% of all man-made methane emissions. This is a much higher fraction than the global number, and must reflect the huge role of the oil and gas industry in the U.S.

The EDF Contribution.

Nobody has contributed more to make the world aware of the methane danger than the Environmental Defense Fund (EDF).

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EDF unwrapped the science. “The amount of warming over the long term is important, but so is the speed of warming,” said Dr Ilessa Ocko, senior climate scientist of EDF. “By overlooking the near-term warming from methane, we’re missing an opportunity to make a real difference right now, in our lifetime. This truly is the methane moment.”

The UN picked up the baton and carried it all the way to COP27 in Scotland. More recently, COP28 in Dubai has also formalized the methane issue. Fifty oil companies pledged to achieve net-zero methane emissions by 2030 and to end routine flaring from active oil or gas wells. These fifty oil companies amount to half of global production of oil, so their agreement is highly significant. If the pledge succeeds, it will avoid a rise of 0.1 C degrees, equivalent to about 5 years temperature rise under present conditions.

Satellite surveillance and super-emitters.

EDF’s emphasis on measurement of methane emissions has been invaluable to the oil and gas industry who had been flying blind. Ground-based and satellite detectors have provided numbers, locations, and sources of emission plumes. The plume in Figure 2 enabled the operator to confirm and repair the leak.

A new study, based on measurements of methane emissions from the European Space Agency’s Sentinel-5P satellite, listed eight countries that have methane intensities of 5-25%, much higher than the global average of 2.4%. The countries are Venezuela, Turkmenistan, Uzbekistan, Angola, Iraq, Ukraine, Nigeria and Mexico. This cries out for better regulation to lower methane leaks which are eminently fixable.

MethaneSAT, a subsidiary of EDF, is planned to be launched by SpaceX in early 2024. It will concentrate on emissions from the oil and gas industry, especially lower emissions from many sources that can add up to a serious overall level.

How fed actions may affect the golden age of LNG.

The golden age of LNG has come about because of the need for energy security for the EU after Russia’s war on Ukraine, as well as LNG displacing coal-fired power plants in Southeast Asia and China. An insightful article by Bloomberg epitomizes this LNG boom. QatarEnergy and its backers are investing $45 billion (yes that’s billion) to expand the country’s LNG exports, although its already one of the top three LNG exporters in the world – along with Australia and the U.S. A Japanese firm building the expansion has enlisted 30,000 workers from 50 countries.

Four other huge LNG expansions are planned in Louisiana and Texas: Plaquemines, Rio Grande, Port Arthur and Golden Pass. In a few years, by adding 80 million tons of capacity, the U.S. will separate as the top LNG exporter.

Can the fed pause in LNG impact the LNG industry? Yes, according to Bloomberg. The development of an LNG project is fraught with uncertainties, especially the lengthy timeframe of LNG. LNG developers in the U.S., such as Cheniere, try to get contract commitments from customers that last 10 years or even longer – before they go about finding investors in a new project. But they understand if they expand too fast they risk a glut in the market. If they move too slow, they risk the market switching to coal. The fed pause kicks in a new uncertainty about the future of LNG.

Can the fed pause reduce greenhouse gas emissions? IEA has estimated emissions from all existing LNG facilities, including burning of the LNG, and come up with 1.5 billion metric tons per year of CO2 equivalent, Bloomberg said. This is 3.8% of total global emissions. For 300 million tons of new LNG permitted facilities, this would raise the stakes by an extra 1.2 billion metric tons of CO2 equivalent, or 3.0% of global total. The grand total of LNG emissions would then be almost 7% of global. This needs to be rationalized.

Bill McKibben, famous for his opposition to the Keystone XL oil pipeline, has protested the LNG expansion. “No one can sign a paper that says it’s time to transition from fossil fuels and then permit” new U.S. projects that will add to global emissions, McKibben said.

This is a dilemma for governments. On one hand, LNG provides energy security and reduces emissions by displacing coal-fired power plants. On the other hand, LNG causes carbon emissions, first, from methane leaks in LNG production and distribution and, second, from CO2 when LNG is burned.

By Forbes NEWS / Ian Palmer , 02.02.2024

LNG Terminal (or Liquefied Natural Gas Terminal) is a facility that is used for the storage and loading or unloading of liquefied natural gas (LNG). These facilities are typically located at ports or along coastlines and are used to transfer LNG from ships to storage tanks, and then to pipelines for distribution to customers.

LNG terminal technology has experienced significant advances in recent years, driven by the need to meet the growing demand for liquefied natural gas (LNG) as a fuel source. The technology has evolved from simple storage tanks to sophisticated terminals that are capable of receiving, storing, and regasifying LNG. The key trends in LNG terminal technology that are driving this evolution include increased safety, efficiency, and flexibility.

Safety is a key consideration in the design of any LNG terminal. To ensure the highest levels of safety, terminals must be designed with robust containment systems that are able to protect against leaks, fires, and explosions. This is achieved through the use of advanced materials such as stainless steel and special insulation, as well as by incorporating a range of safety features such as pressure relief systems, fire suppression systems, and emergency shutdown systems.

Efficiency is also an important consideration in the design of LNG terminals. To maximize efficiency, terminals must be designed to minimize energy losses during the liquefaction, storage, and regasification processes. This is achieved through the use of technologies such as advanced heat exchangers, vaporizers, and insulation. In addition, terminals must be designed to minimize the amount of time needed for loading and unloading LNG, as well as to minimize the cost of the process.

Flexibility is another important trend in LNG terminal technology. To meet the changing needs of the market, terminals must be designed to be able to quickly and easily adapt to different types of LNG. This requires the use of advanced automation and control systems that are capable of handling different types of LNG with minimal human intervention. In addition, terminals must be designed to be able to receive LNG from a variety of sources, including ships, barges, and pipelines.

These key trends in LNG terminal technology are driving the evolution of the technology and allowing terminals to become more efficient, safe, and flexible. This is enabling terminals to better meet the growing demand for LNG as a fuel source, while also reducing the costs associated with the process. As the technology continues to evolve, it is likely that these trends will continue to be important drivers of the development of LNG terminals.

The global Liquefied Natural Gas (LNG) terminal market is driven by a number of factors, including an increasing demand for natural gas, a growing need for energy security, and the emergence of new technologies. As the world’s population continues to grow, so does the need for energy. As a result, natural gas is becoming increasingly important, as it is a more efficient and cleaner burning fuel than other fossil fuels. This has led to an increased demand for LNG terminals, as they are the primary means of transporting natural gas from one place to another.

The need for energy security is another key driver of the LNG terminal market. With the rise of geopolitical tensions, and the increasing prevalence of natural disasters, countries are looking to secure their energy supply. LNG terminals provide a secure, reliable, and cost-effective way to transport natural gas from one place to another. This has led to an increased demand for LNG terminals, as countries seek to ensure their energy supply is not disrupted by external factors.

The emergence of new technologies is another key driver of the LNG terminal market. Technologies such as floating storage and regasification units (FSRUs) have allowed for the construction of smaller and more efficient LNG terminals. FSRUs allow for the offloading of LNG from a ship directly into storage tanks, which can then be used to supply gas to the local market. This has made LNG terminals more cost-effective and easier to construct, leading to an increase in demand.

Finally, the increasing demand for natural gas in emerging markets is another key driver of the LNG terminal market. As countries in the Middle East, Africa, and Asia continue to industrialize, their demand for natural gas is increasing. This has led to an increased demand for LNG terminals, as these countries look to secure their energy supply.

In conclusion, the global LNG terminal market is driven by a number of factors, including an increasing demand for natural gas, a growing need for energy security, and the emergence of new technologies. These factors have led to an increased demand for LNG terminals, as countries look to secure their energy supply and meet their growing demand for natural gas.

The LNG terminal market has been facing several key restraints and challenges in recent years. The most prominent of these include the high capital cost of setting up an LNG terminal, the need for increased safety and security measures, and the difficulty of finding suitable locations to build the terminal.

The high capital cost of setting up an LNG terminal is a major challenge. The cost to build a single LNG terminal can range from $500 million to $2 billion, depending on the size and complexity of the terminal. This is a significant amount of money for any company or government to invest, and it often takes several years for the terminal to begin generating revenue. Additionally, the cost of operation and maintenance of the terminal can be high and require significant investment over time.

The need for increased safety and security measures is another key challenge. LNG terminals are large-scale industrial facilities that handle and store highly explosive materials. As such, they require extensive safety and security measures to ensure the safety of workers, the environment, and the public. These measures can include physical barriers, monitoring systems, and security personnel. However, these measures can be difficult to implement and can add to the cost of establishing and operating an LNG terminal.

Finally, finding suitable locations to build the terminal is another challenge. LNG terminals are large facilities that require access to deep, sheltered waters for berthing and storage of LNG vessels. Additionally, the terminal must be close to existing infrastructure such as gas pipelines, power lines, and roads. Finding a suitable location can be difficult and often requires extensive research and negotiations with local governments and communities.

Overall, the LNG terminal market is facing several key restraints and challenges. These include the high capital cost of setting up an LNG terminal, the need for increased safety and security measures, and the difficulty of finding suitable locations to build the terminal. However, with the increasing demand for LNG and the development of new technologies, these challenges can be overcome and the LNG terminal market can continue to grow in the future.

By- Tank Terminals, Linkewire / 02.01.2024 

Deep dive into regulation changes, safety best practices and digitalisation at this year’s StocExpo. Curated by the team at Tank Storage Magazine, the two conference tracks at StocExpo on 12 & 13 March will cover the hottest topics in tank storage, energy security and terminal safety.

Want to stay up to date with the regulations that impact you? In the FETSA Tank Storage Conference at StocExpo, Martin Reuvers, Senior engineer at Vopak, will give an update on revisions to PGS 12. Along with industry partners, Vopak has successfully developed a new Dutch standard for safe large scale ammonia storage. Reuvers will present the challenges posed by upscaling ammonia storage as an energy carrier, covering topics including tank design and inspection.

And in the Terminal Operations & Safety Conference taking place on the show floor, Kena Jolley, technical manager at EEMUA will be updating attendees on EEMUA 244. This regulation addresses the management of rectangular metallic tanks, through their complete life cycle, including specification, inspection, and maintenance. It provides practical, pragmatic guidance for owners and operators of such tanks which will help reduce the risk of failure in service and enable the extension of service life where appropriate.

When it comes to the energy transition, StocExpo is your opportunity to engage with industry leaders, expand your network and gain a comprehensive understanding of the evolving landcape of the tank storage sector.

Mathias Potvin, Terminal Manager at LBC Terminals Rotterdam, Barend Van Schalkwyk at OCI HyFuel, Tamme Mekkes, Business Development Director at Koole Terminals and Jammes Elgen, Head of Port Energy Solutions at Hamburg Port Authority are just some of the speakers covering this topic at the event. They will explore how terminals can reach net zero, what the ‘terminal of the future’ looks like and providing an outlook on what the energy transition looks like from a global perspective.

Euro Tank Terminal in Rotterdam is undergoing improvements in its energy use and emissions, which will enable the terminal to reach net zero by 2042.

The day before StocExpo, on 11 March, ETT will be hosting an exclusive terminal tour of the facility.

‘ETT is a versatile and diverse terminal, however with a compact footprint that is efficiently managed and operated,’ says Hellenthal on what to expect on the tour.

Want to hear how how market leaders have tackled the digital transformation? Over the course of the event, representatives from Evos, Argent Energy and Fujairah Oil Terminal will cover how IoT can be used to improve efficiencies and share their own digital journeys.

When it comes to safety, are you striving for an impressive lost-time incident free operation record? The easiest way to achieve this is to learn from others.

Lai Siang Yeong, Senior Manager Assets & Operations at Advario Asia Pacific will be helping you achieve safety excellence at the terminal. Advario uses HSSE leading and lagging indicators to improve safety at the terminal. He will also be sharing his experiences in creating a reporting, informed and learning culture.

Other noteworthy experts including Gavin Salmon, HSEQ at Oikos, Pol Hoorelbeke, VP Major Risks decision at Total Energies, Gestur Guðjónsson, Environmental and safety manager at Olíudreifing (Iceland) and David Tassadogh at GRESB will tackle topics including learnings from a refinery fire, the value of ESG reporting at the terminal and the risks natural hazards pose to the storage sector.

By Tank Storage / Molly Cooper 01.31.2024