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Article: Sempra Ships Crude to SPR.(U.S.'s Strategic Petroleum Reserve)(Brief Article)
- Article from:
- The Oil Daily
- Article date:
- January 24, 2002
CopyrightCOPYRIGHT 2002 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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Sempra Ships Crude to SPR
US utility Sempra shipped about 4 million bbl of North Sea Brent crude oil to the US to be delivered in February and March to the government's Strategic Petroleum Reserve (SPR), traders said Tuesday.
Two very large crude carriers (VLCCs) of 2 million bbl each were dispatched by Sempra to US shores filled with Brent crude, traders said. Sempra will sell the oil to a counterparty that will deliver it to the government's oil reserve, one trader said.
Brent crude has not been offered in the market, a sign that the 4 million bbl are not on sale, the dealer said.
However, a Sempra source on Tuesday played down talk ...