Petroleum storage (51 - 59 of 59 items)
Strategic Petroleum Reserve
114628: Mar 18, 1981
The Energy Security Act requires the President to fill the Strategic Petroleum Reserve (SPR) at an average rate of at least 100,000 barrels per day for fiscal year 1981 and succeeding years. The Department of Energy's (DOE) fiscal year (FY) 1981 appropriation provided that the President should seek to fill the SPR at an average annual rate of at least 300,000 barrels per day or at a rate which wil...
Status of Strategic Petroleum Reserve Activities
EMD-81-24: Published: Nov 3, 1980. Publicly Released: Dec 3, 1980.
Title VIII of the Energy Security Act requires the President to resume filling the Strategic Petroleum Reserve (SPR) at an average rate of at least 100,000 barrels per day for fiscal year 1981 and succeeding years. It also requires the President to amend the Department of Energy (DOE) entitlement regulations so that the Government, in effect, pays lower tier prices for SPR crude oil.The administra...
Purchase Price of Strategic Petroleum Reserve Oil Fair but Payment Timing Is Costly
PSAD-80-30: Published: Apr 3, 1980. Publicly Released: Apr 3, 1980.
The Defense Fuel Supply Center (DFSC) is responsible for buying oil for the Strategic Petroleum Reserve. According to Department of Energy expectations, the reserve will ultimately contain 1 billion barrels of oil at a cost of $22.6 billion for the first 750 million barrels. A review was made of the cost of the 113 million barrels of oil purchased through June 30, 1979.The prices paid were competi...
The Strategic Petroleum Reserve
110318: Sep 10, 1979
The subject of GAO work on the strategic petroleum reserve program's management of facility cost, oil supply, and future site development is addressed. It appears that the Department of Energy is instituting the proper tools it will need to better manage and control facility costs. These tools, however, can only be as effective as management makes them by diligently monitoring the systems to insur...
Factors Influencing the Size of the U.S. Strategic Petroleum Reserve
ID-79-8: Published: Jun 15, 1979. Publicly Released: Jun 15, 1979.
The potential value of the strategic petroleum reserve as a national security measure in diminishing U.S. vulnerability to the effects of interruptions in imported petroleum supplies, and in carrying out U.S. international energy commitments, is unquestionable. The law creating the reserve, however, allows considerable discretion in deciding how the reserve can most effectively be established. Det...
Information on Department of Energy's Management of the Strategic Petroleum Reserve
EMD-79-49: Published: Mar 22, 1979. Publicly Released: Apr 20, 1979.
Answers are presented to a series of congressionally generated questions concerning the management of the strategic petroleum reserve program by the Department of Energy.Prior review of the cost and feasibility of salt cavern storage raised questions concerning the need for better information to reduce risks and uncertainties regarding the suitability of specific caverns for storage. However, salt...
The Strategic Petroleum Reserve
108670: Feb 26, 1979
A progress report on an analysis of the optimum size for a U.S strategic petroleum reserve was presented. The following observations and conclusions were discussed: (1) research did not show that one billion barrels of oil was the optimum size reserve; (2) a recent analysis by the Department of Energy indicated that the largest potential supply shortfalls, 6.6 and 6.8 million barrels per day, wer...
Potential Savings through Purchase of Royalty Oil for Strategic Petroleum Reserve
EMD-79-1: Published: Oct 6, 1978. Publicly Released: Oct 6, 1978.
A 1977 report to Congress stated that oil produced from Outer Continental Shelf and onshore federal leases, on which royalties are paid, could be purchased for the Strategic Petroleum Reserve at substantial savings to the government. Department of Interior officials calculated that, based on May 1978 crude oil prices, royalty oil would be $3.01 a barrel less than the national average composite pri...
Issues Needing Attention in Developing the Strategic Petroleum Reserve
EMD-77-20: Published: Feb 16, 1977. Publicly Released: Feb 16, 1977.
The concept of the Strategic Petroleum Reserve is to provide protection against future oil embargoes by creation of a reserve equal to approximately 500 barrels of crude oil. As part of the reserve, an Early Storage Reserve is to be established to contain at least 150 million barrels by December 1978. The proposed reserve will contain only crude oil which will be stored underground in salt dome ca...