Kayrros announces update to Crude Oil Intelligence

The offering provides traders with precise satellite data on crude oil inventories in close to real time, allowing them to make smarter trading decisions. The update includes an additional incremental storage capacity of 23 million bbls across four new terminals.

Kayrros data shows that China is expanding its crude oil storage and capacity continuously. It has become the biggest crude oil capacity-builder worldwide. In 2021, China increased its storage capacity by 5.6%; in 2022, by 9.5%. Thus far in 2023, it has increased its storage capacity by 1.4%.

Kayrros’ new Crude Oil Intelligence locations are essential points of focus for observers of China. The first, Qingdao Shihua Dongjiakou Port terminal, is a major centre for the import of large amounts of crude oil.

The second, the Yulong refinery from Nanshan Group, is still under construction, but will be a key hub of Chinese crude oil refining. Data shows that at Nanshan Group Yulong refinery, storage capacity is so far 12.7 million bbls. At Qingdao Shihua Dongjiakou Port terminal, storage capacity has been increased by 8.3 million bbls.

Kayrros’ expansion in Crude Oil Intelligence coverage will also include one new tank, totalling 0.6 million bbls, at the Jask terminal in Iran, and the Barmer refinery in India, amounting to an addition of 1.9 million bbls.

Kayrros updates its coverage regularly to remain aligned with the latest construction projects worldwide. It also provides data on crude oil storage at under-construction refineries, such as Yulong and Barmer, well in advance of when they are due to be finished in order to understand when they will start producing.

Image: Nanshan Group Yulong refinery (China).

Read the article online at: https://www.worldpipelines.com/business-news/16102023/kayrros-announces-update-to-crude-oil-intelligence/