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Techlines provide updates of specific interest to the fossil fuel community. Some Techlines may be issued by the Department of Energy Office of Public Affairs as agency news announcements.
 
 
Issued on:  September 14, 2005

DOE Approves Bids for 11 Million Barrels of Strategic Reserve Crude Oil


Response to Hurricane Katrina Oil Disruptions
Now at  23.6 Million Barrels for U.S. Market


CHRONOLOGY 

WASHINGTON, DC Secretary Samuel W. Bodman announced that the Department of Energy has approved bids for the sale of 11 million barrels of crude oil from the Strategic Petroleum Reserve (SPR). Combined with the 12.6 million barrels of crude oil previously approved for loans, these initial SPR releases in response to the disruptions caused by Hurricane Katrina will provide 23.6 million barrels of crude oil for the U.S. market.

"The United States is committed to using all of the tools at our disposal to help keep our oil and gasoline markets well supplied," Secretary Bodman said. "This sale ensures that refineries have the petroleum they need to keep gasoline and diesel fuel flowing to American consumers while production facilities in the gulf region regain their capacity. As we move forward, we will continue to monitor the overall supply of petroleum available and the needs of the nation as we determine next steps."

A list of the successful and unsuccessful offerors is available by clicking on the following link:

- End of Techline -
 
 

For more information, contact:

  • Craig Stevens, DOE Office of Public Affairs, 202-586-4940

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 Page owner:  Fossil Energy Office of Communications
Page updated on: December 14, 2005 

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