Progress in Filling the Strategic Petroleum Reserve Continues, but Capacity Concerns Remain
EMD-82-112: Published: Jul 15, 1982. Publicly Released: Jul 26, 1982.
- Full Report:
This is the first in a series of reports that GAO was requested to provide on the Administration's progress in filling the Strategic Petroleum Reserve (SPR) and its compliance with applicable laws.
The Department of Energy (DOE) reported that the SPR contained about 264.1 million barrels as of June 30, 1982. During fiscal year (FY) 1982, about 64.8 million barrels of oil have been delivered to SPR, for an average fill rate of about 237,000 barrels per day. The DOE purchasing agent for most SPR oil issued a solicitation on July 1, 1982, requesting offers for the sale of 18.25 million barrels, or about 50,000 barrels per day, of low-sulfur crude oils to the SPR during FY 1983. In May 1982, DOE stated that it now expects to have 277 million barrels of storage capacity by the end of FY 1982. The ability of DOE to maintain or to accelerate the SPR fill rate for permanent storage depends on its ability to meet the schedule for developing new capacity. As provided in the Omnibus Budget Reconciliation Act of 1981, an off-budget SPR Petroleum Account for oil acquisition and transportation funds was established on October 1, 1981.