02 January 2009 22:05 [Source: ICIS news]
Taking advantage of the decline in oil prices, the initial solicitation will be to replenish emergency supplies sold to refiners during hurricanes Katrina and Rita in 2005. The SPR will also be receiving oil to make up for amounts released to refiners in 2008 to cover disruptions caused by hurricanes Gustav and Ike.
The DOE is expected to conduct three other acquisitions or fill activities in order to bring up the SPR to its current storage capacity of 727m bbl.
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