Article: United States -- The Energy Department opened the bidding process for oil companies to turn over 22 million bbl of crude for the Strategic Petroleum Reserve instead of making cash royalty payments.(Brief Article)(Statistical Data Included)

UNITED STATES -- The Energy Department opened the bidding process for oil companies to turn over 22 million bbl of crude for the Strategic Petroleum Reserve instead of making cash royalty payments. The royalty-in-kind oil is the first phase of the Bush administration's plan announced last November to fill the reserve to its capacity of 700 million bbl. The reserve currently holds 551 million bbl of oil. The royalty oil will be added to the reserve at an initial ...

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