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With the price of crude oil and refined products in 2008 at near record levels, it would seem as important as ever to have an efficient tank storage industry. However, is the ‘golden era’ for tank storage over? Is changing supply and demand, mixed profits and highly inflated asset values establishing a new cycle for the tank storage business? Are new market entrants, even the long term operators beginning to feel the squeeze of falling investments, EU environmental politics and new fuel grade specifications? Will regional tax differences and the fuel marketer’s penchant for additives and blending contribute to the complexity of operations and infrastructure in a global climate of tightening supply?

The 2nd Annual European Oil Storage conference will once again put this sector under the spotlight. In less than four years, global oil demand has escalated, oil prices have tripled and trade flows increased. Commercial storage has become a source of value and a lucrative business for many. What will it take to consolidate this value and new opportunity in a tougher market environment? This examination will assess such issues whilst considering other demand drivers that might equip the industry with the commercial dynamics to remain competitive.