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

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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.

Click on the image at right for a graph detailing the top 10 parent companies for U.S. refined-product storage maintenance projects that are set to kick off in the second quarter of 2023.

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.

Kinder Morgan's projects include tank inspections and upgrades to four petroleum-product terminals in Virginia: the 25-tank terminal in Newington; the 18-tank terminal in Roanoke; the 11-tank terminal in Richmond; and the nine-tank terminal in Chesapeake. Each project is slated to begin in April and wrap up toward the end of the year. Subscribers to Industrial Info's Global Market Intelligence (GMI) Oil & Gas Terminal Project Database can read detailed reports on the Newington, Roanoke, Richmond and Chesapeake projects.

Brian Partee, the senior vice president for Marathon Petroleum's clean products business, noted in his company's most recent quarterly earnings call that diesel demand remained "resilient" in the U.S. throughout the COVID-19 pandemic, and he expects strong diesel margins to continue throughout 2023. Marathon is preparing to kick off inspections and upgrades at its Zachary Station Terminal in Jackson, Louisiana; its terminal in Carson, California; and its terminal in North Muskegon, Michigan, all of which store gasoline and diesel.

Marathon's projects are scheduled to kick off next month and wrap up in December. Subscribers can learn more from Industrial Info's detailed reports on the Zachary Station, Carson and North Muskegon projects.

Buckeye's projects are concentrated in the U.S. Northeast and Great Lakes regions, including five across the state of New York:

• two or three tanks at the 34-tank terminal in Albany; see project report
• one tank at the nine-tank terminal in Newburgh; see project report
• two tanks at the seven-tank terminal in Utica; see project report
• one tank at the six-tank terminal in Brewerton; see project report
• one or two tanks at the nine-tank terminal in Rochester; see project report

Terminals designed to hold other products also are set for API 653 tank inspections and upgrades, including South Coast Terminals' (Houston, Texas) petrochemical and lubricant terminal in Houston and International Matex Tank Terminals' (New Orleans, Louisiana) petrochemical terminal in Harvey, Louisiana. Each facility will inspect and perform any needed repairs on up to three tanks. South Coast is a subsidiary of KMCO LLC (Philadelphia, Pennsylvania), and International Matex is a subsidiary of Riverstone Holdings LLC (New York, New York). Subscribers can read detailed reports on the Houston and Harvey projects.

Subscribers to Industrial Info's GMI project and plant databases can click here for a full list of detailed reports for projects mentioned in this article, and click here for a full list of related plant profiles.

Subscribers can click here for a full list of reports for maintenance-related projects at U.S.-based storage facilities for refined products that are set to kick off in the second quarter.

Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) platform helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking more than 200,000 current and future projects worth $17.8 trillion (USD).