Explosion in Puerto Rico destroys petroleum storage tanks

23 October 2009 20:45  [Source: ICIS news]

HOUSTON (ICIS news)--An explosion and fire at a Caribbean Petroleum storage facility in Puerto Rico destroyed a number of large petroleum storage tanks, the US Chemical Safety Board (CSB) said on Friday.

The CSB is sending an investigative team to the site near San Juan, Puerto Rico. The site has tanks for crude oil, unfinished petroleum products, clean finished products, black finished products and liquefied petroleum gases (LPG), according to Caribbean Petroleum's website.

The company said on its website that the crude tanks are converted to finished products. Its 48,000 bbl/day refinery, at the same location, is out of service.

Eleven of the facility's 40 storage tanks containing jet fuel, bunker fuel and gasoline were destroyed, according to Reuters.

A call to Caribbean Petroleum 's Puerto Rico office was not answered.

A US Gulf coast jet fuel trader said the fire could impact cash jet fuel prices, but bids heard at 4.00 cents under the NYMEX November heating oil contract were weaker than the 1.35-cent discount to the futures screen on Thursday.

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By: Ryan Hickman
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