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Business Daily: Oil Price: Using Super-tankers for Storage

A tanker delivers fuel by pipe to a ship in the bay of Algeciras

12/01/2015

Oil Price: Using Super-tankers for Storage

BBC World Service - Business Daily, Oil Price: Using Super-tankers for Storage

Oil firms rent super-tankers for emergency storage while they wait for the price to rise

It's claimed speculators are renting super-tankers for storage while they wait for the oil price to rise. How desperate is the market? And what does it all mean for green energy?

We explore the effect a crashing oil price is having on oil companies - it's reported some of them are renting entire ocean-going super-tankers just to store the stuff while they wait for the price to rise. Also, in the year of a crucial global Climate Summit, we ask oil analyst David Hunter, of the consultancy, Schneider Electric, what cheap oil means for the renewable energy market. A leading Malawian entrepreneur, Gospel Kazaku, reveals his recipe for how to make it in business in Africa. And Lucy Kellaway of the Financial Times announces her annual awards for last year's most ludicrous business jargon.

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