Oil reserve: Status of Strategic Petroleum Reserve activities as of June 30, 1986

Technical Report · Wed Jan 01 04:00:00 EST 1986

OSTI ID:5990863

The administration has no official plans to revise the moratorium-based FY 1987 Strategic Petroleum Reserve budget submitted in February 1986, to recognize congressional actions affecting SPR development and oil fill. As of June 1986 the Department of Energy planned to stop oil fill at 503 million barrels but as a result of GAO recommendations concerning continued SPR storage capacity development and oil fill purchases, DOE added 4.9 million barrels of crude oil to the SPR, bringing the total inventory level to 501.8 million barrels. The oil fill rate averaged 53,800 barrels per day. Also as of June 1986, payments made from the oil acquisition and transportation account during the quarter totaled $63 million; unpaid obligations totaled $63 million; and unobligated funds available for oil purchases totaled $590 million. DOE has taken or planned various corrective actions for improving future SPR sales as a result of DOE's assessment of the results of the recently conducted oil drawdown test and scale exercise.

• Research Organization: General Accounting Office, Washington, DC (USA)
• OSTI ID: 5990863
• Report Number(s): GAO/RCED-86-205
• Country of Publication: United States
• Language: English

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