Dublin, Dec. 15, 2016 (GLOBE NEWSWIRE) -- Research and Markets has announced the addition of the "Global Oil and Gas Storage Service Market 2016-2020" report to their offering.

The global oil and gas storage service market to grow at a CAGR of 2.2% during the period 2016-2020.

The report covers the present scenario and the growth prospects of the global oil and gas storage service market for 2016-2020. To calculate the market size, the report presents the vendor landscape and a corresponding detailed profiling of the key market participants across the value chain of the market.

Storage tank services are responsible for over 70% of the revenue in the market and include containers that hold liquids, compressed gases, or mediums used for short- or long-term storage. Typically, these tanks operate under no or very little pressure and can be spherical or cylindrical in shape. Based upon location and requirement, storage tanks come in varieties such as crude oil tankages, product and intermediate storage tankages, dispatch area tankages, and minitanks near production units of a refinery.

One of latest trends in the market is rise in deep water and ultra-deep water operations. With the conventional avenues of oil and gas reserves already seeing a certain end, the dependence of the global economy on fossil fuels is pushing the upstream oil and gas sector to the geographical ends of the globe. The most significant of these, which cements the aforementioned trend, is the increased reliance on deep water and ultra-deep water drilling and production operations. The frequency of these operations, marked by significantly hostile operating conditions, is only expected to increase manifold in the coming decade. This puts the significant question on the technological capabilities of the oil and gas storage industry to adapt and successfully operate in these conditions.

Key questions answered in this report

• What will the market size be in 2020 and what will the growth rate be?
• What are the key market trends?
• What is driving this market?
• What are the challenges to market growth?
• Who are the key vendors in this market space?
• What are the market opportunities and threats faced by the key vendors?
• What are the strengths and weaknesses of the key vendors?

Key vendors

• Royal Vopak
• Oiltanking
• Magellan Midstream Partners
• Buckeye Partners
• Vitol

Other prominent vendors

• Blueknight Energy Partners
• CIM-CCMP Group
• CLH Group
• Dailan Port Company
• Horizon Terminals Limited
• International-Matex Tank Terminals (IMTT)
• Kinder Morgan
• NuStar Energy
• Odfjell

Key Topics Covered:

Part 01: Executive summary

Part 02: Scope of the report

Part 03: Market research methodology

Part 04: Introduction

Part 05: Market landscape

Part 06: Market segmentation by service type

Part 07: Geographical segmentation

Part 08: Market drivers

Part 09: Impact of drivers

Part 10: Market challenges

Part 11: Impact of drivers and challenges

Part 12: Market trends

Part 13: Vendor landscape

Part 14: Appendix

For more information about this report visit http://www.researchandmarkets.com/research/pqj6fd/global_oil_and

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