FLOATING ROOF TANK An external floating roof tank is a storage tank commonly used to store large quantities of petroleum products such as crude oil or condensate. It consists of an open- topped cylindrical steel shell equipped with a roof that floats on the surface of the stored liquid. The roof rises and falls with the liquid level in the tank. As opposed to a fixed roof tank there is no vapor space (ullage) in the floating roof tank (except for very low liquid level situations). In principle,