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WASHINGTON, DC - Secretary Samuel W. Bodman announced that the Department of Energy has approved bids for the sale of 11 million barrels of crude oil from the Strategic Petroleum Reserve (SPR). Combined with the 12.6 million barrels of crude previously approved for loans these SPR releases, in response to the disruptions caused by Hurricane Katrina, will provide 23.6 million barrels of crude for the U.S. market.
"The United States is committed to using all of the tools at our disposal to help keep our oil and gasoline markets well supplied," Secretary Bodman said. "This sale ensures that refineries have the petroleum they need to keep gasoline and diesel fuel flowing to American consumers while production facilities in the gulf region regain their capacity. As we move forward, we will continue to monitor the overall supply of petroleum available and the needs of the nation as we determine next steps."
A list of the successful offerors, the abstract of offers, the Notice of Sale, and other related documents are available at the following internet address: www.fossil.energy.gov.