India's crude storage: Should it look at VLCCs instead of underground caverns?
Very large crude carriers are usually used for long-distance transport of oil. 8Since 2016, the global oil consumption capacity has become increasingly saturated. The onshore storage space has therefore started to tighten. 8Compared with the new land-based oil storage facility, crude oil storage at sea has the advantages of low initial investment, short construction period, relatively flexible deployment and less impact on the surrounding environment in the event of an accident. 8Should India look at this kind of storage instead of building Rs 5000 crore underground storage facilities? 8The full costing matrix for tanker storage facilities is carried here for reference purposes, allowing an easy comparison of onland and offshore storage. 8If costal storage is expensive for crude oil and even petroleum products, should offshore storage then be a viable option? Click on Reports for more