U.S. Refined Product Terminals Prep for 230 Maintenance Projects

March 6, 2023--Researched by Industrial Info Resources (Sugar Land, Texas)--Across the U.S., refined-product storage companies are preparing for a long list of maintenance-related work at facilities of varying capacities, as demand for many commodities is expected to continue to recover over the coming year. About 50 plant parent companies are gearing up for API 653 tank inspections, which cover the maintenance, inspection, alteration and repair of steel, field-erected aboveground storage tanks.

Industrial Info is tracking about 230 maintenance-related projects at U.S.-based storage facilities for refined products that are set to kick off in the second quarter. All but 20 are valued at $1 million or less. Kinder Morgan Incorporated (NYSE:KMI) (Houston, Texas) accounts for more projects (28) and more spending ($34 million in total) than any other company, edging out IFM Investors (Melbourne, Victoria), the parent company of Buckeye Partners, which has 26 projects totaling $29 million; and Marathon Petroleum Corporation (NYSE:MPC) (Findlay, Ohio), which has 24 projects totaling $25 million.

Other companies featured: South Coast Terminals, International Matex Tank Terminals, KMCO LLC and Riverstone Holdings LLC.