API-650 Relates to the Storage Tank - I can't comment as I do not have. But basically, If the installation is the USA, and the pressure is 15 PSIG and above, then a ASME VIII "UV/NB" Code Stamped Pressure Relief Valve/device is required. Storage tank will require overpressure protection for various scenarios.
If not USA then end user and/or specification may require it (in addition to any local law or regulation).
Per ISO, only the term Safety Valve is used regardless of application or design.