Energy Department Authorizes Emergency SPR Exchange of Up to 400,000 Barrels for Phillips 66 Lake Charles Refinery
The U.S. Department of Energy (DOE) announced in Washington on October 23 that it has authorized an emergency exchange of up to 400,000 barrels of crude oil from the Strategic Petroleum Reserve (SPR) to address a crude oil supply disruption affecting the Phillips 66 Lake Charles Refinery in Louisiana. DOE said the crude will be delivered immediately from the West Hackberry SPR site.
Under the terms of the exchange, all borrowed crude oil will be returned with additional premium barrels. DOE said the arrangement will help replenish and strengthen the SPR at no additional cost to taxpayers.
DOE Under Secretary of Energy Kyle Haustveit said: "With this exchange, the Energy Department is taking definitive action to support refinery operations, maintain stable fuel supplies, and ensure all Americans continue to have access to the affordable, reliable, and secure energy they rely on every day." He said the emergency exchange helps alleviate the supply disruption and requires Phillips 66 to return more barrels to the SPR than are currently being withdrawn, saving taxpayers millions of dollars.
DOE said the supply will help offset temporary disruptions affecting crude oil deliveries to the refinery and support continued production of transportation fuels serving Louisiana and surrounding markets. The department said it will continue working with industry partners to help ensure stability across the fuel supply chain and stands ready to use available authorities, as appropriate, to support reliable energy delivery and protect U.S. energy security.
Published by GSM · USA (original Chinese edition)
Photo: 图：墨西哥湾沿岸炼油厂储油罐区航拍（资料图）。照片：美国国会图书馆（Library of Congress），公共领域，经 Wikimedia Commons。 / Aerial view of refinery storage tanks on the Gulf Coast (file photo). Photo: Library of Congress, public domain, via Wikimedia Commons.
