Fundamentals of Oil Storage - FOS 

CPE Credits Awarded: 8
Categories: Oil Industry, Oil Supply and Trading, Refining, Shipping and Bunkering

Course Date Duration Venue Price Registration Deadline Register
Open date - Not scheduled. Please enquire.


Fundamentals of Oil Storage is a one-day oil training course presented by the energy training experts at Mennta Energy Solutions. This one-day workshop is designed as an introduction to the fundamentals of oil storage. The course reviews the different types of oil storage, technical issues and strategic storage requirements. Delegates will learn about the major storage operators, key worldwide storage hubs and storage market trends. We’ll also cover the use of storage and economics, including pricing and valuing of storage and hedging material in storage.

Includes Online Pre-study Module
This course is accompanied by a preparatory course available online. Delegates will receive a web voucher as part of their joining instructions upon confirmation of registration. By taking advantage of this "blended" learning approach, in-class time and learning are optimized.


Class delegates include those new to the oil industry, as well as non-technical staff who wish to learn more about oil storage, including support staff, analysts and management in the areas of supply, operations, trading, marketing, risk management, finance, contracts and IT.


Overview of storage methods:

  • Underground tanks
  • Overground tanks – floating & fixed roofs; different types of tanks; LPG and liquid oil tank types
  • Use of tankers for storage

Storage issues:

  • Handling different types of oil products
  • Prevention of losses
  • Emissions control
  • Removal of water
  • Safety issues
  • Quality issues affecting oil in storage

Storage fundamentals:

  • Statistics of current worldwide storage capacity; storage expansion projects
  • Profile of major independent storage operators
  • Types of storage contracts & services offered by storage operators
  • Profiles of 3 major storage hubs: Cushing, Rotterdam, Singapore
  • Data reporting requirements

Strategic storage requirements

  • Compulsory stock obligations (IEA requirements) & buying/selling of CSO tickets
  • Strategic petroleum reserves

Use of storage

  • Balancing supply / demand – overview of global crude & product trade flows & imbalances; changes in types/quantities of products being storage
  • Need for blending, including biofuel requirements
  • Speculative reasons, & how market structure (contango/backwardation) affects storage market


  • Pricing and valuing of storage – valuing the intrinsic and extrinsic value of storage; optimizing the use of storage
  • Factors affecting storage rates
  • Accounting/taxation issues of stocks
  • Hedging material in storage – static hedging of inventory against loss of value; dynamic hedging and rolling hedging for storage

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Mennta Energy Solutions (formerly The Oxford Princeton Programme, Inc.) is not affiliated with Princeton University, Oxford University, or Oxford University Press.