Oban Energies will target the market demand for storage of petroleum / liquid product and distribution of petroleum products for refineries and major trading companies. The storage market is large – more than 500 million barrels in the U.S. – and demand is growing as available storage capacity is declining. The market for storage of petroleum/liquid product and distribution products is large and growing, but is lacking sufficient capacity and state-of-the-art facilities with best-in-class location or management.
The Project will provide storage tankage for crude oils, residual fuel oils, middle and light distillates, specialty vegetable oils and heavy oils. In addition, Oban Energies will consider all other bulk liquid storage requests. The Project will launch with an initial capacity of 4 million barrels, with plans to expand capacity to 20 million barrels by year four of facility operation. In addition, Oban Energies will construct a 50,000 barrel per day petroleum refinery, with plans to expand to 250,000 barrels per day by year 4 of the facility operation.