Definition - What does Oil Storage mean?
Oil Storage is the process of storing oil products such as crude oil and refined petroleum in storage tanks. Oil refineries use special tanks for storage of oil and other fluids that are corrosive, toxic or flammable in nature. Oil refineries usually have floating roof tanks and fixed roof tanks, which can be used as per the nature of the liquid being stored. Most Oil Storage tanks are settled on according to the flash point of the fuel.
Petropedia explains Oil Storage
Oil refineries require special tanks for Oil Storage. These tanks can be classified based on their location and use in oil refineries. Oil regulations vary in different countries for Oil Storage tanks, which determine various standards of safety. Storage tanks are specially engineered for a particular fluid, based on the flash point of the liquid fuel. Fixed roof tanks are used for solutions with high flash points such as fuel oil, bitumen and water while Floating Roof Tanks (FRT) or Internal Floating Roof Tanks (IFRT) are used for solutions that have medium or low flash points such as diesel, crude oil, naphtha, kerosene, ethanol and gasoline.