This paper reviews 242 accidents of storage tanks that occurred in industrial facilities over last 40 years. Fishbone Diagram is applied to analyze the causes that lead to accidents. Corrective actions are also provided to help operating engineers handling similar situations in the future. The results show that 74% of accidents occurred in petroleum refineries, oil terminals or storage. Fire and explosion account for 85% of the accidents. There were 80 accidents (33%) caused by lightning and 72 (30%) caused by human errors including poor operations and maintenance. Other causes were equipment failure, sabotage, crack and rupture, leak and line rupture, static electricity, open flames etc. Most of those accidents would have been avoided if good engineering have been practiced. (c) 2005 Elsevier Ltd. All rights reserved.