Long-Term Strategic Review (LTSR) of the U.S. Strategic Petroleum Reserve (SPR) Report to Congress
The LTSR is a congressionally-mandated study that provides an overview of the SPR and addresses key challenges that will impact the Reserve’s ability to carry out its energy security mission.
- LTSR Report to Congress - Major topics include: The state of the SPR’s surface and subsurface infrastructure; bottlenecks in the North American midstream infrastructure that impact the SPR’s ability to move oil to the market; costs and benefits of SPR options; SPR modernization requirements for infrastructure life extension; the addition of dedicated marine terminals; issues with the SPR’s authorizing legislation, the Energy Policy and Conservation Act (EPCA).
Strategic Petroleum Reserves Reports to Congress
Section 165 of the Energy Policy and Conservation Act (42 U.S.C. 6245), as amended, requires the Secretary of Energy to report annually to the President and the Congress on the activities of the Strategic Petroleum Reserve.
- Calendar Year 2017 - Highlights include: In 2017, the Strategic Petroleum Reserve (SPR) successfully carried out three congressionally mandated crude oil sales. In February 2017, the SPR began crude oil sales in accordance with Section 404 of the Bipartisan Budget Act of 2015 (Public Law 114-74). The SPR successfully executed six emergency exchange agreements, in response to impacts from Hurricane Harvey and subsequent oil shortages, with deliveries from August 30, 2017, through September 28, 2017, to four companies—Marathon, Phillips 66, Placid, and Valero—for a total of approximately 5.0 MMbbl. Of the total exchange barrels 2,684,826 barrels of crude oil, including premium barrels were paid back in Calendar Year 2017.
- Calendar Year 2016 - Highlights include: In May 2016, the Strategic Petroleum Reserve successfully completed the Long-Term Strategic Review (LTSR) in accordance with Section 402 of the Bipartisan Budget Act of 2015 (Pub. L. 114-74), an act that required the Secretary of Energy to conduct an assessment of the SPR’s ability to carry out its energy security mission in the context of changing North American and global oil markets and its ability to address challenges and critical decisions facing the SPR in the coming years.
- Calendar Year 2015 - Highlights include: The Strategic Petroleum Reserve completed the acquisition of 4.2 million barrels of sweet crude oil delivery to the Bryan Mound facility through the Seaway Jones Creek terminal to replenish volumes sold during 2014 test sale; Continued success in receiving several awards for management quality, environmental stewardship, and safety management systems.
- Calendar Year 2014 - Highlights include: Successful test sale conducted to evaluate the SPR's drawdown and sales procedures; establishment of the Northeast Gasoline Supply Reserve.
- Calendar Year 2013 - Highlights include: Emptying and decommissioning a cavern located at the Bayou Choctaw Site in Louisiana; continuation of the Capacity Maintenance Program; Environmental, Safety, and Health awards.
- Calendar Year 2012 - Highlights include: Hurricane Isaac exchange of one million barrels of oil; construction of a new storage cavern at the Bayou Choctaw site completed; Environment, Safety, and Health awards.
- Calendar Year 2011 - Highlights include: Libya Collective Action and drawdown of 30 million barrels of crude oil; cancellation of the SPR expansion to one billion barrels; replacement cavern at the Bayou Choctaw site was acquired.
- Calendar Year 2010 - Highlights include: No crude oil acquisitions as SPR completes fill to 727 million barrel capacity; Supplemental Environmental Impact Statement for expansion to one billion barrels completed; plans continue to purchase privately-owned cavern to replace cavern at Bayou Choctaw site experiencing structural problems that pose environmental risk.
- Calendar Year 2009 - Highlights include: The Strategic Petroleum Reserve completed fill during 2009 to it’s 726 million barrel capacity; continued work to finalize Supplemental Environmental Impact Statement initiated in regards to expansion to one million barrels; funds authorized for purchase of existing privately-owned cavern to replace a cavern experiencing structural problems that pose an environmental risk.
- Calendar Years Prior to 2009
Additional Reports Issued by the Office of Petroleum Reserves
- 2014 Test Sale Report to Congress - Section 161 of the Energy Policy and Conservation Act (42 U.S.C. 6245), as amended, requires the Secretary of Energy to provide a detailed explanation of any test of the Strategic Petroleum Reserve drawdown and sales procedures. The Department of Energy carried out such a test starting in March 2014 with completion in July 2014.