Nick Snow
Washington Correspondent
WASHINGTON, DC, Apr. 25 -- The US Department of Energy, in response to a provision of the Energy Policy Act of 2005, has proposed procedures for acquiring crude for the Strategic Petroleum Reserve.
Acquisitions may be by direct purchase, transfer of royalty oil from the Department of the Interior, or receipt of premium barrels resulting from deferral of scheduled deliveries, DOE said.
It said the SPR currently holds 687.3 million bbl. Comments on the proposal are due by May 24.
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