Oil Storage Companies Witness an Unprecedented Capacity Demand without a Proportional Rise in Profits
Oil storage companies are seeing record demand for their storage facility services. Yet, they don’t seem to be making the cut as far as profits from their services are concerned. The record demand seems to be a case of oil companies simply storing their output in anticipation of suitable, upward revisions in the prices of crude oil and petroleum products. The prices, in turn, depend on increase in demand for crude oil and refined products. The uncertainty in the global economy coupled with credit crunch is adding to the dilemma faced by these companies.
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Oil Storage Companies Witness an Unprecedented Capacity Demand without a Proportional Rise in Profits Reference Code: GDGE0596VPT Publication Date: FEB 2009 Energy Viewpoint GDGE0596VPT / Published Feb 2009 © GlobalData. This report is a licensed product and is not to be photocopied Page(1) Table of Contents 1 Table of Contents 1 Table of Contents 2 1.1 List of Tables 4 1.2 List of Figures 5 2 GlobalData Viewpoint 6 2.1 Summary 6 3 Oil Storage Companies Witness an Unprecedented Capacity Demand without a Proportional Rise in Profits 7 3.1 Low Oil and Refined Products Demand and Reduced Prices are Upping the Ante of Oil Storage 7 3.2 Global Oil and Petroleum Products Storage Industry is Set to Grow between 2008 and 2013 7 3.3 Rationale behind Minimal Profit Growth of Oil Storage Companies amidst High Storage Demand and Capacity Growth 8 3.4 Conclusion 9 4 Recent Developments 10 4.1 Oct 17, 2008: CNOOC Wins NDRC Approval To Construct Oil Terminal In Huizhou 10 4.2 Jan 23, 2009: Petrobras Unveils New Business Plan For 2009-2013 10 4.3 Sep 10, 2008: Total To Spend EUR5.5 B
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