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Tag Archives: LOOP

The Louisiana Offshore Oil Port rising to meet the needs of crude oil storage

What costs more than $25 million dollars, can hold 1.1 million barrels of oil and known as the Bayou State? That’s correct. The 3 new above ground oil tanks added to Clovelly Hub by The Louisiana Offshore Oil Port (LOOP). Currently, LOOP has 60 million barrels underground capacity, and once construction is finished, their final above ground storage will be ...

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Louisiana oil port, made for import, rents domestic storage

 BATON ROUGE, La. — Louisiana’s offshore oil port, with huge underground storage caverns, was built to handle imported oil but is now leasing space to traders who need to store U.S. crude. The Louisiana Offshore Oil Port recently auctioned 11.3 million barrels of monthly storage space and has scheduled another auction Tuesday, The Advocate reported. “For us, it’s an innovative ...

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