Arrangement and method for monitoring a fluid storage tank which includes a housing defining an interior receivable of a removable fluid. An interior sensor system is arranged on the housing to obtain information about any fluid in the interior of the housing different than the location of the tank. A location determining system is arranged on the housing to monitor the location of the tank, and a communication system is coupled to the interior sensor system and the location determining system and which is arranged to transmit the information about the fluid in the interior of the housing and the location of the tank to one or more remote facilities. The communication system may be arranged on the housing itself, which is especially applicable when the housing is movable, for example, such as the housing of a Frac tank. The location and condition of the fluid in the tank can thus be known at all times.