Strategic Petroleum Reserve. Quarterly report
During the second quarter of 1982, the Department of Energy continued to expand the storage capacity for the Strategic Petroleum Reserve (SPR) and to take advantage of the favorable international oil market for the purchase of oil to fill the Reserve. The SPR is being developed in three phases and the cumulative fill capability for storage of crude oil for the SPR is expected to be 750 million barrels by 1990. Market conditions continued to be favorable for the purchase of oil to fill available SPR storage capacity. The SPR was filled at a rate of 171,470 barrels per day during the calendar quarter ending June 30, 1982, and the total SPR crude oil inventory at the end of this period was 264,141,247 barrels. The weighted average cost of crude oil delivered to SPR terminals from April 1, 1982, through June 30, 1982, was $34.06 per barrel. The SPR Petroleum Account became off-budget in FY 1982 pursuant to the Omnibus Budget Reconciliation Act of 1981. Funds for storage facilities development and operations, planning and program direction continue to remain on budget. Congress appropriated $3.7 billion to the SPR Petroleum Account for FY 1982. During the third quarter of FY 1982, obligations totaling $2.1 million were made from the Account bringing cumulative FY 1982 obligations for the first three quarters of FY 1982 to $2.666 billion. A total of $239 million is available in FY 1982 for obligations for storage facilities development and operations, planning and program direction. Of this total, $126.1 million have been obligated in the first three quarters of this fiscal year, and a deferral of $52.9 million for the Phase III Big Hill site has been sent to Congress.
- Research Organization:
- USDOE Assistant Secretary for Environmental Protection, Safety and Emergency Preparedness, Washington, DC
- OSTI ID:
- 5060525
- Report Number(s):
- DOE/EP-0046/2; ON: DE82021752
- Country of Publication:
- United States
- Language:
- English
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Strategic Petroleum Reserve. Quarterly report
Strategic Petroleum Reserve. Quarterly report