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Article: DOE won't lose money selling oil from Weeks Island SPR, officials say. (Department of Energy, Weeks Island, Louisiana, Strategic Petroleum Reserve)
- Article from:
- The Oil Daily
- Article date:
- February 22, 1995
- Author:
CopyrightCOPYRIGHT 1995 Energy Intelligence Group. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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WASHINGTON -- The U.S. government probably would not lose money on a Department of Energy (DOE) proposal to sell 7 million bbl of oil from the Strategic Petroleum Reserve (SPR), according to Patricia Fry Godley, DOE assistant secretary of fossil energy.
Godley said the most recent 7 million bbl of SPR crude was supplied for an average of $17.50/bbl, less than the current price of crude.
Reginal Spiller, DOE deputy assistant secretary for gas and petroleum technologies, meanwhile, said that if the ban on exports of Alaska North Slope (ANS) crude oil is lifted, the ANS price would jump 50cts. to $1.50/bbl, and ANS output would rise.
Godley -- like ...