LOOP starts service to 3 crude oil storage tanks

PORT FOURCHON - Louisiana Offshore Oil Port has started operations at three new above-ground crude oil tanks located at its Clovelly hub, adding 1.1 million barrels of storage capacity and giving the facility a total 10.1 million barrels of above-ground storage.
The tanks began service about 3 months ahead of schedule and will help LOOP meet market demands.
Earlier this year, LOOP began selling storage space to traders who needed a place to park their crude while waiting for oil prices to recove