Oil & Gas
Facilities with aboveground and underground storage tanks for petroleum products must make spill prevention a priority. A single faulty overfill prevention valve can cause massive losses, environmental hazards, and risk to people and property.
On April 20th, the oil prices hit subzero (-$37.63 per barrel) in the United States for the first time in history. The global onshore oil storage hovered around 77% full in the same month. During these times, every player in the oil and gas industry is sitting on the same question: what does the future look like in the face of the COVID-19 pandemic, and what lies ahead.
Oil prices have hit low records, forcing manufacturers to shut shop and hold on to stocks. But what are the storage solutions available to the oil industry?