LONDON, Jan 20 (Reuters) – The bankruptcy of a major storage terminal planned in northwest Europe has supported regional tank storage rates for diesel and gasoline, just as European traders rush to fill up diesel tanks ahead of a Feb. 5 ban on Russian fuel.
Earlier this month, the district court in Rotterdam declared the insolvency of the long-delayed HES Hartel Tank Terminal, to be developed in Europe’s major trading port of Rotterdam.
The terminal would have offered 1.3 million cubic metres of storage capacity for gasoline, diesel, gasoil, jet fuel and biofuels.
Oil major BP operator of the 400,000 barrel per day (bpd) Rotterdam refinery had planned to connect to the new terminal by pipeline, which was expected to reduce the company’s…
Read the full article at: https://www.reuters.com/markets/commodities/insolvency-european-storage-terminal-supports-tank-storage-rates-2023-01-20/