Indian Oil will operate the upcoming Visakhapatnam IV liquids storage terminal, located in Andhra Pradesh in India. Expected to start operations in 2021, the liquids storage terminal will be owned by Indian Oil.
Expected to be operational in 2021, the terminal will primarily store chemicals, and petroleum products and will have pipeline, and road access.
Key specifications of the storage terminal-
Storage Capacity (bbl): 466,074
Tank Size Min (bbl): 314
Tank Size Max (bbl): 113,216
Number of Tanks: 21
During the period 2021-2025, the Visakhapatnam IV storage terminal is expected to witness an estimated capex of $56.59m.
About Indian Oil
Indian Oil Corp Ltd (IOCL) is an integrated oil and gas company. The company conducts exploration and production of oil and natural gas, refining of crude oil, pipeline transportation and marketing of natural gas and petroleum products. It also manufactures and markets petrochemicals and has considerable operations in alternative energy. IOCL’s refined petroleum products include high speed diesel, jet fuel, light petroleum gas, gasoline, bitumen, heavy fuel oil, naphtha, lubricants and greases. The company conducts upstream operation in collaboration with other consortium partners both in India and other countries including the US, Canada, Gabon, Libya, Nigeria, Russia, Venezuela, Oman and the UAE. It is a Maharatna company of Government of India. IOCL is headquartered in New Delhi, India.
Information on the liquids storage terminal is sourced from GlobalData’s liquids storage terminal database that provides detailed information on all active and upcoming, liquids storage terminals globally. Not all companies mentioned in the article may be currently existing due to their merger or acquisition or business closure.