Arab Today, arab today us oil sale helps offset spr cavern shrinkage
Last Updated : GMT 14:32:45
Arab Today, arab today
Arab Today, arab today

US oil sale helps offset SPR cavern shrinkage

Arab Today, arab today

Arab Today, arab today US oil sale helps offset SPR cavern shrinkage

Washington - SPA

A sale last year from the U.S. emergency crude-oil reserves has helped offset shrinking capacity, or “creep,â€‌ at the 62 salt caverns in Texas and Louisiana that form the Strategic Petroleum Reserve (SPR), the Energy Department’s inspector-general said Tuesday. A geological force called creep causes the caverns, which hold up to 727 million barrels of oil, to shrink at a rate that can reduce capacity by 1 million to 2 million barrels per year. The company that operates the SPR for the government, DM Petroleum Operations Company, conducts routing “leaching,â€‌ or the blasting of fresh water at the caverns’ walls to dissolve salt and maintain the capacity. The SPR currently holds about 695 million barrels after the 2011 sale and a loan of 1 million barrels to Marathon Petroleum Corporation after Hurricane Isaac in August caused delays and outages at refineries and production facilities.

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