Oil Terminal Inaugurates a 55,000 Cubic Meters Storage Tank
01.10.2024 By Tank Terminals - NEWS

January 10, 2024 [Energynomics]- The Minister of Energy, Sebastian Burduja, participated on Friday, at the Oil Terminal company in Constanta, in the inauguration of a tank with a storage capacity of 55,000 cubic meters built in the Southern Warehouse of the company, at the exit of the city, the Ministry announced.

 

According to the general director of the Oil Terminal, Sorin Ciutureanu, one of the reasons why the new reservoir was built, outside the city, is to move the storage capacity from the Northern Warehouse, which is located inside the municipality of Constanța, on about 100 hectares, so that an urban regeneration project can be carried out, for 38 hectares, “with many benefits for the Constanta community, as well as for the company”.

The inauguration of the new reservoir also marks the completion of 125 years of activity of the Oil Terminal company, a company with majority state capital.

Minister Burduja congratulated the management of the company for the investments made.

“On the one hand, for the people of Constanta, it means the chance to reinvent their community in a central area of the city, through an urban regeneration project of an unprecedented size, I think, at the level of Romania, through a partnership between a company with majority state capital, Oil Terminal, and a Romanian private developer, which will give Constanta a new face and put the city on the map effectively throughout the year. (…) This new reservoir allows and is part of this plan to move storage capacities to the South, where they do not interfere with the daily life of the community. (…) I think it is very good news that in Romania, large investment projects are being closed, finished before the deadline. (…) I congratulate you, it also means the company’s chance to develop further, to attract new customers, to highlight the portfolio it currently has, as well as Romania’s chance to score at the regional level through what the Oil Terminal means over 125 years,” said Sebastian Burduja, quoted by Agerpres.

Oil Terminal SA and Iulius Real Estate SRL signed an association agreement last year. Thus, a 38-hectare land owned by the company, of whose shares the Ministry of Energy owns 87.75%, land that housed storage spaces for petroleum products and on which the basic activity has not been carried out for over 10 years, is returned to the city as a sustainable and accessible urban area for the entire community, contributing to the economic, touristic, social and cultural development of the city of Constanța.

 

Pro Trial: Access 12,600 Tank Terminal and Production Facilities

12,600 tank storage and production facilities as per the date of this article. Click on the button and register to get instant access to actionable tank storage industry data

FERC to Decide on Venture Global Building Permit Extension by April
02.23.2024 - NEWS
February 23, 2024 [Oil Price]- The Federal Energy Regulatory Commission will try to be quick in d... Read More
Shell's LNG Trading Makes $2.4 Billion in Final 2023 Quarter, Sources Say
02.23.2024 - NEWS
February 23, 2024 [Reuters]- Nearly a third of Shell’s (SHEL.L), opens new tab profit in th... Read More
Europe, Africa Oil Markets Tighten, Lending Support to Futures
02.23.2024 - NEWS
February 23, 2024 [Reuters]- Red Sea shipping delays and OPEC+ supply cuts are tightening physica... Read More
Concluded Joint Development Agreement for Production of Sustainable Aviation Fuel (SAF) from Woody Biomass in the US
02.23.2024 - NEWS
February 23, 2024 [Sumitomo Corporation]- Sumitomo Corporation, through Sumitomo Corporation of A... Read More