US to resume filling Strategic Petroleum Reserve
01-12-08 The US Energy Department will resume filling the nation's Strategic Petroleum Reserve in January, once Congressional restrictions expire, a spokeswoman said.
"The return of SPR emergency exchange oil as a result of damages caused by Hurricanes Gustav and Ike is scheduled to start in January 2009," Healy Baumgardner, spokeswoman for the department, said.
The reserve is expected to add 2 mm barrels in January, according to an online inventory, said a report.
Congress in May approved legislation stopping shipments to the reserve, which currently holds 701.8 mm barrels. The legislation, which expires at the end of 2008, was aimed at reducing record energy prices.
The department loaned out 5.39 mm barrels of oil to refiners in response to supply disruptions caused by hurricanes Gustav and Ike in September.
Source: http://www.upstreamonline.com