Crude Oil Storage Tank Construction Cost

A 60 million project to add about 7 million barrels of new crude oil storage capacity at cushing was announced tuesday by houston based plains resources inc an oil and gas company formerly headquartered in oklahoma city plains president patrick collins said construction of the facility to include about 59 above ground crude storage tanks with capacities ranging from about 100 000 to 250 000 barrels should begin near the end of the year collins said he expects the first tanks to be ready.

Crude oil storage tank construction cost.

Lamberson international construction consulting llc all costs in us based on usgc 4q 2013 description base materials cost mto allowance cut waste allowance design allowance total material cost subcontract costs fabricate installation cost subtotal cost contingency total cost tank farm and storage terminal cost. 550 285 000 total capex for tank faarm 61 14 per barrel 512 77 per m3 a 5 discount rate plus a 4 operating rate translates to pe. Storage prices for gasoil doubled in the last three weeks from 2 euros 2 16 per cubic metre per month to 4 euros said patrick kulsen from insights global a firm that tracks oil product. Oil futures plunged to their lowest level in history as demand for crude continues to plummet and u s.

Fixed roof tank is usually used when the quantity of crude oil is not too much. While floating roof tank is the optimum selection for storing larger quantities of crude oil.