Strategic Petroleum Reserve. Quarterly report

Technical Report · Tue Feb 15 04:00:00 EST 1983

OSTI ID:6496373

During the first quarter of FY 1983, the Department of Energy continued to expand the storage capacity of the Strategic Petroleum Reserve (SPR) and to fill available storage capacity in the Reserve through purchases made in FY 1982. The SPR is being developed in three phases. Development of Phase I of the program consisting of approximately 260 million barrels of capacity (an increase of approximately 10 million barrels over prior estimates due to the acceptance of Sulphur Mines Cavern 2-4-5) was completed in 1980. Development of Phase II storage of 290 million barrels continues on schedule with the solution mining of the first three caverns completed in December 1982. Phase III construction at Bryan Mound is ongoing with drilling activities approximately 70 percent complete. Big Hill detailed design is nearing completion, and approximately 294 acres of land for the site were condemned in December 1982. The SPR was filled at a rate of 173,288 barrels per day during the calendar quarter ending December 31, 1982, and the total SPR crude oil inventory at the end of this period was 293,826,909 barrels. The weighted average cost of crude oil delivered to SPR terminals from October 1, 1982, through December 31, 1982, was $34.16 per barrel. Market conditions continue to be favorable for the purchase of oil to fill available SPR storage capacity. 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 $2.074 billion to the PSR Petroleum Account for FY 1983.

• Research Organization: USDOE Assistant Secretary for Environmental Protection, Safety and Emergency Preparedness, Washington, DC. Office of the Deputy Assistant Secretary for Strategic Petroleum Reserve
• OSTI ID: 6496373
• Report Number(s): DOE/EP-0046/4; ON: DE83008365
• Country of Publication: United States
• Language: English

Related Subjects

02 PETROLEUM
024000* -- Petroleum-- Storage-- (-1989)
29 ENERGY PLANNING, POLICY, AND ECONOMY
294002 -- Energy Planning & Policy-- Petroleum
BUDGETS
CAPACITY
COST
ENERGY SOURCES
FOSSIL FUELS
FUELS
IMPLEMENTATION
PETROLEUM
PROCUREMENT
RESERVES
RESOURCES
SITE PREPARATION
STORAGE
STRATEGIC PETROLEUM RESERVE
UNDERGROUND STORAGE