Oil has become an essential need of the time. You will be angry and shocked at the same time to know that in the early 1500s to 1600s, people did not know what to do with fossil fuel and crude oil and they used to waste it and hunt whales to get their fat and used them as fuel and oil. But thanks to science and technology, people now know what to do with oil and now they store this precious commodity in oil storage terminals.
If you invest in oil now, then a few years later, you might become a billionaire or whatever is more than a billionaire. Most of the world is now dependent upon oil, our vehicles, our power plants, industries and factories and if oil stops coming out of the Earth, the world would go nuts. If you want more evidence about oil and how to store it then click here now and see more about oil terminals. Oil terminals can only be found in some countries and from their it is distributed around the world.
This oil is usually distributed by trains or by sea. You must be wondering that what are oil terminals used for? Well, the answer is that it is used to store oils, petrochemicals products and other fuels as well. These are also called ship tankers. These oil terminals are transported and such transport is preferred because it is a cheap way of transportation of this commodity. These oil terminals are at the ports usually and the biggest ports of oil terminals are in the oil rich countries like the United Arab Emirates and Western Asian countries.
The nations that have less oil, they have small depots and tankers which are shipped from different which are oil rich countries, they then pump the oil into the oil tankers. During the COVID peak time, there was a hike in the prices of oil in the countries that has less or no oil and that occurred because the exports of oil tankers were restricted.
There are three types of oil distribution:
- Oil terminal: harbor facility or port side.
- Oil deposit: inland storage site for oil.
- Tank farm: containerized units storing oil inland (term ‘farm’ showing several units at different locations) or different silos.