NAICS Code 493190-07 - Oil Storage

Marketing Level - NAICS 8-Digit

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NAICS CODE 493190-07
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NAICS Code 493190-07 Description (8-Digit)

Oil storage is a specialized industry that involves the storage of crude oil, refined petroleum products, and other liquid hydrocarbons. This industry is responsible for the safe and secure storage of these products until they are ready to be transported to their final destination. Oil storage facilities can range in size from small tanks to massive terminals that can hold millions of barrels of oil. The industry plays a critical role in the global energy supply chain, ensuring that oil is available when and where it is needed.

Parent Code - Official US Census

Official 6‑digit NAICS codes serve as the parent classification used for government registrations and documentation. The marketing-level 8‑digit codes act as child extensions of these official classifications, providing refined segmentation for more precise targeting and detailed niche insights. Related industries are listed under the parent code, offering a broader context of the industry environment. For further details on the official classification for this industry, please visit the U.S. Census Bureau NAICS Code 493190 page

Tools

Tools commonly used in the Oil Storage industry for day-to-day tasks and operations.

  • Tank gauging systems
  • Flow meters
  • Pressure sensors
  • Level sensors
  • Sampling equipment
  • Leak detection systems
  • Fire suppression systems
  • Pumps and valves
  • Heating and cooling systems
  • Cathodic protection systems

Industry Examples of Oil Storage

Common products and services typical of NAICS Code 493190-07, illustrating the main business activities and contributions to the market.

  • Crude oil storage
  • Petroleum product storage
  • Chemical storage
  • Biofuel storage
  • Liquid natural gas (LNG) storage
  • Liquid propane gas (LPG) storage
  • Aviation fuel storage
  • Marine fuel storage
  • Asphalt storage
  • Ethanol storage

History

A concise historical narrative of NAICS Code 493190-07 covering global milestones and recent developments within the United States.

  • The oil storage industry has been around since the early days of the oil industry in the mid-19th century. The first oil storage tanks were made of wood and built near oil wells to store crude oil before it was transported to refineries. In the early 20th century, steel tanks replaced wooden ones, and the industry grew as oil production increased. During World War II, the industry played a crucial role in supplying fuel to the military. In recent history, the oil storage industry has faced challenges due to fluctuations in oil prices and oversupply. In 2014, the industry faced a crisis when oil prices dropped, and storage facilities reached their maximum capacity. This led to a decline in demand for storage services and a decrease in revenue for the industry. However, the industry has since recovered, and the demand for oil storage services has increased due to the growth of the oil and gas industry in the United States.