Pumped storage is a decades-old technology with a relatively simple concept: When electricity is cheap and plentiful, use it to pump water up into a reservoir above a turbine, and when electricity ...

IHS Markit INFO analysts project oil demand in the second quarter of 2020 to be 16.4 million bpd less than a year ago; six times more that the record drop seen in the first quarter of 2009 at the ...

Amid record production, some analysts worry the U.S. will run out of places to put it all. One says lack of storage space could drive oil down to about $20 a barrel, less than half the current price.

SINGAPORE—The historic fall in oil prices has created a pileup of inventories, much of it stashed in tanks in the U.S. and other industrialized countries that are committed to disclosing the ...

Crude storage tanks in the United States are nearly 65 percent full as record low oil prices and falling fuel demand caused by the coronavirus pandemic take their toll on the industry. After in ...

Storing oil on supertankers is far from cheap. A six-month contract can cost anywhere from $50,000 to $150,000 a day depending on the type of ship and the duration of the agreement.

Oil storage tanks onshore, and offshore are filling up at an unprecedented rate, but what exactly will happen if the world runs out of places to store the oil?

Available global oil storage capacity is variously put at 0.9, 1, 1.6 and 1.8 billion barrels, and the IEA’s estimate of capacity at 6.7 billion barrels would imply 2.5 billion barrels of ...

Each hollow concrete sphere measures 30 ft (9 m) in diameter, weighs 400 tons, and will be anchored to the sea floor at depths of 1,970 - 2,625 ft (600 - 800 m) for optimal performance.

Global oil storage fills to the brim despite leap in costs. By Bozorgmehr Sharafedin, Shadia Nasralla and Devika Krishna Kumar. March 25, 2020 12:51 PM UTC Updated March 25, 2020 ...

Exploded Nigerian oil storage vessel was 'old, badly maintained' -sources. By Tife Owolabi and Julia Payne. February 5, 2022 9:05 AM UTC Updated February 5, 2022 Item 1 of 3 ...