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The U.S. can release and acquire SPR crude oil through a mechanism known as an Exchange. In an exchange, an entity (usually an oil refiner) borrows SPR crude oil for a short time period due to exigent circumstances and later replaces it in full, along with a premium of an additional quantity of oil. Exchanges usually occur during severe weather events, such as Hurricanes or in response to temporary disruptions, such as pipeline blockages and ship channel closures when a facilities normal scheduled deliveries are interrupted.
Click the View More button to view Active and Archived Crude Oil Exchanges.
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Established in 1975 in the aftermath of the OPEC oil embargo, the Strategic Petroleum Reserve was originally intended to hold at least 750 million barrels of crude oil as an insurance policy against future supply cutoffs. Today's design capacity is 714 million barrels. An approved mechanism for acquiring crude oil is through direct purchase.
Click the View More button to view Active and Archived Crude Oil Purchases.
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Section 161 of the Energy Policy and Conservation Act (EPCA) gives authority to the President under specified conditions to direct the Secretary of Energy to conduct a public sale of oil from the Strategic Petroleum Reserve. DOE sells SPR Crude Oil in a competitive auction to the highest bidder. The Department may initiate a sale to respond to a severe energy supply interruption, to prevent or address lesser supply shortages, or to conduct evaluations of drawdown and sales procedures.
Click the View More button to view Active and Archived Crude Oil Sales.
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The U.S. Department of Energy has developed an online Crude Oil Sales Offer Program (COSOP) for emergency sales of crude oil from the Strategic Petroleum Reserve. The application provides users with the ability to submit offers for oil sales conducted by the U.S. Strategic Petroleum Reserve. The application is available only to registered users. If an unregistered user attempts to login, they will be prompted to register.
Click the View More button to access the SPR’s COSOP application.
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The U.S. can release and acquire SPR crude oil through a mechanism known as an Exchange. In an exchange, an entity (usually an oil refiner) borrows SPR crude oil for a short time period due to exigent circumstances and later replaces it in full, along with a premium of an additional quantity of oil. Exchanges usually occur during severe weather events, such as Hurricanes or in response to temporary disruptions, such as pipeline blockages and ship channel closures when a facilities normal scheduled deliveries are interrupted.
Click the View More button to view Active and Archived Crude Oil Exchanges.
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Established in 1975 in the aftermath of the OPEC oil embargo, the Strategic Petroleum Reserve was originally intended to hold at least 750 million barrels of crude oil as an insurance policy against future supply cutoffs. Today's design capacity is 714 million barrels. An approved mechanism for acquiring crude oil is through direct purchase.
Click the View More button to view Active and Archived Crude Oil Purchases.
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Section 161 of the Energy Policy and Conservation Act (EPCA) gives authority to the President under specified conditions to direct the Secretary of Energy to conduct a public sale of oil from the Strategic Petroleum Reserve. DOE sells SPR Crude Oil in a competitive auction to the highest bidder. The Department may initiate a sale to respond to a severe energy supply interruption, to prevent or address lesser supply shortages, or to conduct evaluations of drawdown and sales procedures.
Click the View More button to view Active and Archived Crude Oil Sales.
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The U.S. Department of Energy has developed an online Crude Oil Sales Offer Program (COSOP) for emergency sales of crude oil from the Strategic Petroleum Reserve. The application provides users with the ability to submit offers for oil sales conducted by the U.S. Strategic Petroleum Reserve. The application is available only to registered users. If an unregistered user attempts to login, they will be prompted to register.
Click the View More button to access the SPR’s COSOP application.
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