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Oman considers major oil storage outside Hormuz strait

Khaleej Times(Reuters) -- Oman is considering building a facility to store up to 200 million barrels of crude safely outside the Strait of Hormuz, the head of a state-run oil investment company said on Wednesday.
The proposed facility would be larger than any other tank farm in the world. Working crude storage capacity at Cushing in the United States is around 62 million barrels.

Iran has repeatedly threatened to block the narrow shipping lanes between Oman and Iran through which over a third of all sea-borne traded oil is shipped each day, as tensions with the West over Teheran’s nuclear plans have intensified.

Oman is now studying whether there is still enough interest from oil producers and traders to merit building a storage complex on the Arabian Sea coast of south-east Oman.

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Submitted Oct 15, 2012 By: NOTSOGRN

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honda0105 Champion Author Tallahassee Posts:18,632 Points:1,610,495 Joined:Nov 2008	Message Posted: Oct 17, 2012 5:54:45 AM Ignore honda0105 Report Abuse probably a safer choice.
fuel2use Champion Author Seattle Posts:3,493 Points:734,300 Joined:Dec 2010	Message Posted: Oct 16, 2012 5:36:05 PM Ignore fuel2use Report Abuse Might work.
Skimo2012 Rookie Author Cleveland Posts:85 Points:101,610 Joined:Jun 2012	Message Posted: Oct 16, 2012 5:01:48 PM Ignore Skimo2012 Report Abuse End up being another target to strike.
sparky808 Champion Author Honolulu Posts:3,008 Points:599,685 Joined:Sep 2011	Message Posted: Oct 16, 2012 1:35:02 PM Ignore sparky808 Report Abuse Thank you for posting.
gas4433 Champion Author Houston Posts:2,362 Points:546,725 Joined:Sep 2011	Message Posted: Oct 16, 2012 12:40:15 PM Ignore gas4433 Report Abuse Ok
arb0526 Champion Author Greensboro Posts:1,981 Points:411,595 Joined:Mar 2011	Message Posted: Oct 16, 2012 12:06:00 AM Ignore arb0526 Report Abuse go with natural gas and the price of oil will bottom out...thus solving this problem.
rahcat Champion Author Grand Rapids Posts:2,473 Points:663,925 Joined:Jan 2010	Message Posted: Oct 16, 2012 12:05:55 AM Ignore rahcat Report Abuse Old News
PrinceLH Champion Author Ontario Posts:2,697 Points:539,020 Joined:Jun 2011	Message Posted: Oct 16, 2012 12:01:32 AM Ignore PrinceLH Report Abuse Good!
diesel8888 Champion Author Salt Lake City Posts:1,197 Points:360,360 Joined:Nov 2011	Message Posted: Oct 16, 2012 12:01:06 AM Ignore diesel8888 Report Abuse Ok
iamforiu Champion Author Indiana Posts:3,580 Points:712,715 Joined:May 2011	Message Posted: Oct 15, 2012 11:59:59 PM Ignore iamforiu Report Abuse k
radiorumor Champion Author Texas Posts:2,817 Points:754,835 Joined:Feb 2011	Message Posted: Oct 15, 2012 11:59:33 PM Ignore radiorumor Report Abuse Maybe we could get ahead again by converting the Grand Canyon
jim27106 All-Star Author North Carolina Posts:770 Points:782,810 Joined:Feb 2009	Message Posted: Oct 15, 2012 11:59:03 PM Ignore jim27106 Report Abuse It would be smarter to build four 50 million barrel facilities. You never know when someone with a missle, bomber, or terrorist will strike. With four locations the risk is much less.
crashintuc34 Champion Author Tucson Posts:4,057 Points:812,565 Joined:May 2010	Message Posted: Oct 15, 2012 11:59:00 PM Ignore crashintuc34 Report Abuse If we were energy independent this would not matter to us.
IUVidiot Champion Author Indiana Posts:3,595 Points:710,410 Joined:Jun 2011	Message Posted: Oct 15, 2012 11:58:36 PM Ignore IUVidiot Report Abuse k
getalong All-Star Author California Posts:801 Points:150,165 Joined:Aug 2007	Message Posted: Oct 15, 2012 11:57:52 PM Ignore getalong Report Abuse sigh
fullauto Champion Author Reading Posts:5,325 Points:1,473,040 Joined:Apr 2008	Message Posted: Oct 15, 2012 11:50:36 PM Ignore fullauto Report Abuse safe?
camel1 Champion Author Minnesota Posts:8,275 Points:2,267,590 Joined:Jul 2006	Message Posted: Oct 15, 2012 11:47:34 PM Ignore camel1 Report Abuse is it needed?
veemotors All-Star Author Alberta Posts:710 Points:66,620 Joined:Jun 2008	Message Posted: Oct 15, 2012 11:45:38 PM Ignore veemotors Report Abuse ohhh
us4usa Champion Author Missouri Posts:5,993 Points:1,113,430 Joined:May 2008	Message Posted: Oct 15, 2012 11:44:48 PM Ignore us4usa Report Abuse We need to switch to NG vehicles... If Iran blocks the shipping lane that should be their last day on earth... [Edited by: us4usa at 10/15/2012 11:45:15 PM EST]
nehemiah Champion Author Portland Posts:4,766 Points:931,590 Joined:Jul 2007	Message Posted: Oct 15, 2012 11:44:26 PM Ignore nehemiah Report Abuse we need more alternatives, not this
blazerbob91 Champion Author Milwaukee Posts:6,150 Points:1,884,645 Joined:Aug 2005	Message Posted: Oct 15, 2012 11:40:46 PM Ignore blazerbob91 Report Abuse It will take years to construct.
Blue48 Champion Author Illinois Posts:7,315 Points:1,639,895 Joined:Feb 2007	Message Posted: Oct 15, 2012 11:39:57 PM Ignore Blue48 Report Abuse OK!
AnObserver Champion Author New Jersey Posts:8,364 Points:2,259,730 Joined:Sep 2005	Message Posted: Oct 15, 2012 11:39:09 PM Ignore AnObserver Report Abuse Costly ... but maybe necessary in this corner of the world
mrbee Champion Author Little Rock Posts:3,763 Points:2,467,560 Joined:Oct 2005	Message Posted: Oct 15, 2012 11:37:22 PM Ignore mrbee Report Abuse Costly.
bonzoonfmb Champion Author Florida Posts:1,787 Points:645,560 Joined:Feb 2010	Message Posted: Oct 15, 2012 11:35:03 PM Ignore bonzoonfmb Report Abuse That is not a bad idea but don't let the crazies in Iran push you around - they need that strait as open as you do.
menagerie1013 Champion Author San Diego Posts:2,365 Points:690,740 Joined:Apr 2011	Message Posted: Oct 15, 2012 11:33:07 PM Ignore menagerie1013 Report Abuse This affects us how?
Jeeputtputt Champion Author Ohio Posts:3,002 Points:677,465 Joined:Aug 2009	Message Posted: Oct 15, 2012 11:23:16 PM Ignore Jeeputtputt Report Abuse care?
DeeLA Champion Author Los Angeles Posts:4,823 Points:1,366,305 Joined:Nov 2008	Message Posted: Oct 15, 2012 11:21:49 PM Ignore DeeLA Report Abuse Sounds like a good idea.
mcmonsta Champion Author Honolulu Posts:3,232 Points:819,520 Joined:Sep 2009	Message Posted: Oct 15, 2012 11:18:27 PM Ignore mcmonsta Report Abuse protect what you can when you can!
pgerassi Champion Author Milwaukee Posts:10,906 Points:2,133,555 Joined:Apr 2007	Message Posted: Oct 15, 2012 11:18:22 PM Ignore pgerassi Report Abuse OK
WIWalt Champion Author Wisconsin Posts:1,731 Points:415,770 Joined:Mar 2012	Message Posted: Oct 15, 2012 11:14:18 PM Ignore WIWalt Report Abuse ok
biggyhy Champion Author Milwaukee Posts:1,481 Points:475,230 Joined:Sep 2011	Message Posted: Oct 15, 2012 11:14:14 PM Ignore biggyhy Report Abuse great
REKEY Champion Author South Carolina Posts:8,584 Points:1,700,390 Joined:May 2008	Message Posted: Oct 15, 2012 11:13:48 PM Ignore REKEY Report Abuse Good!
SUPPER Champion Author San Bernardino Posts:2,477 Points:1,289,575 Joined:Dec 2004	Message Posted: Oct 15, 2012 11:08:58 PM Ignore SUPPER Report Abuse Good for us
aggietim Champion Author Fort Worth Posts:1,756 Points:694,075 Joined:Oct 2008	Message Posted: Oct 15, 2012 11:08:41 PM Ignore aggietim Report Abuse ok
toadNY Champion Author Albany Posts:7,052 Points:1,515,100 Joined:Apr 2008	Message Posted: Oct 15, 2012 11:06:49 PM Ignore toadNY Report Abuse True Jodybull.
MRHONEST Champion Author Illinois Posts:2,212 Points:1,676,430 Joined:May 2007	Message Posted: Oct 15, 2012 11:06:21 PM Ignore MRHONEST Report Abuse Sounds like a plan!
serrog Champion Author Nova Scotia Posts:5,574 Points:1,514,080 Joined:Oct 2008	Message Posted: Oct 15, 2012 11:05:12 PM Ignore serrog Report Abuse Not really news
Ahking Champion Author Orange County Posts:3,507 Points:603,450 Joined:May 2011	Message Posted: Oct 15, 2012 11:02:53 PM Ignore Ahking Report Abuse better than putting crude on tankers.
CycleRyder Veteran Author Atlanta Posts:280 Points:155,875 Joined:Jun 2004	Message Posted: Oct 15, 2012 11:02:41 PM Ignore CycleRyder Report Abuse ok
CycleRyder Veteran Author Atlanta Posts:280 Points:155,875 Joined:Jun 2004	Message Posted: Oct 15, 2012 11:02:28 PM Ignore CycleRyder Report Abuse ok
CycleRyder Veteran Author Atlanta Posts:280 Points:155,875 Joined:Jun 2004	Message Posted: Oct 15, 2012 11:02:18 PM Ignore CycleRyder Report Abuse ok
kishoreCA Champion Author Ventura Posts:3,123 Points:393,870 Joined:Mar 2012	Message Posted: Oct 15, 2012 10:59:34 PM Ignore kishoreCA Report Abuse they have money and they will do it...
clermont40miles Champion Author Cincinnati Posts:10,583 Points:1,773,845 Joined:Apr 2008	Message Posted: Oct 15, 2012 10:58:22 PM Ignore clermont40miles Report Abuse Build it. Reduce risk of transportation disruptions by the IAmAnutJob - current ruler of Persia (Iran).
gabfiore Sophomore Author San Diego Posts:151 Points:86,925 Joined:Apr 2012	Message Posted: Oct 15, 2012 10:56:49 PM Ignore gabfiore Report Abuse Tank farm? The largest in the world? Hhmmmm??.... Sounds like too many eggs (control) in one basket.
whaboush Champion Author Richmond Posts:1,233 Points:732,160 Joined:Nov 2010	Message Posted: Oct 15, 2012 10:55:52 PM Ignore whaboush Report Abuse outside Hormuz strait?!?! That's kinda close to a bunch idiots that want to blow themselves up, isn't it?!
wayoung56 Champion Author Alabama Posts:2,810 Points:820,285 Joined:Oct 2006	Message Posted: Oct 15, 2012 10:55:18 PM Ignore wayoung56 Report Abuse I'm glad someone has decided to thumb their noses at Iran, the NoBama administration doesn't seem to be doing anything...
WillyG Champion Author Cincinnati Posts:3,558 Points:907,065 Joined:Aug 2005	Message Posted: Oct 15, 2012 10:51:45 PM Ignore WillyG Report Abuse Let Iran try.
30mpg80 Champion Author Lexington Posts:10,045 Points:1,488,830 Joined:Nov 2008	Message Posted: Oct 15, 2012 10:50:44 PM Ignore 30mpg80 Report Abuse If Iran interferes with their neighbors, they may get bombed to oblivion
geoutpb Champion Author Midland Odessa Posts:4,633 Points:1,068,260 Joined:Dec 2006	Message Posted: Oct 15, 2012 10:50:24 PM Ignore geoutpb Report Abuse Building a storage area is good business but will make oil more expensive.