Happy Tuesday!
At this point,
you know how we enjoy writing follow-ups to our Blog! We wrote about the Strategic Petroleum Reserve (SPR) having purchased or have had returned to them approximately four million barrels of
oil, and them having a purchasing agreement for another 3.3 million barrels to
be delivered in October. We have another
important American asset now selling gasoline from the Northeast Gasoline Supply Reserve (NGSR).
Did anyone
happen to read the DOE’s CESER Updates Newsletter on May 21, 2024, their
update included a notice for, “FY24 DOE Gasoline (RBOB) Sale”? In the DOE’s updates, they speak about sale of
approximately 1 million barrels of gasoline from the Northeast Gasoline
Supply Reserve’s facilities with delivery no later than June 30, 2024, and
bids are due by May 28, 2024. The SPR is
selling gasoline from their Port Reading, New Jersey facility in the amount of 900,000
barrels, and their South Portland, Maine facility in the amount of 98,824 barrels.
If you are interested, please see their
notice for details. If you would like to
more information on the DOE’s Notice of Sale, please click the
link: FY24DOE Gasoline (RBOB) Sale NOS.pdf.
We thought you would like a little information about the Northeast
Gasoline Supply Reserve (NGSR). The NGSR
was established because of Hurricane Sandy in 2012. The Northeastern United States had a
depletion of gasoline supplies due the extensive damage caused by this super
storm, and in response the Obama Administration established this important regional
American asset. The NGSR may store
up to one million barrels of gasoline to buffer any interruptions which may
occur in the Northeast may it be caused by storm, catastrophic event, or some
other more sinister reason. The DOE ordered the Office of Petroleum Reserve
in June 2014 to develop this important infrastructure as a promise to the
American people this lack of refined petroleum supply wouldn’t happen again,
and ever since the Northeast has had this infrastructure in place for when the
supply is interrupted. These facilities
have an emergency backup power and several avenues to get these emergency supplies
to suppliers. This infrastructure in
addition to the emergency back up one million barrels of heating oil (Ultra Low
Sulphur Diesel) which is maintained by the Northeast Home Heating Oil Reserve is an aid to the Northeast in times of distress.
If you would
like to read more on the SPR’s Northeast Gasoline Supply Reserve, please
click the link: Creating the Northeast Gasoline Supply Reserve | Department of Energy.
If you would
like help in looking into how to transport your product efficiently, safely, and
with less of a carbon footprint or just find out what is underneath your feet
to help with your emission reduction goals, contact us via email in the blog
and check out our ESC's website!
We hope you have a wonderful evening and a productive week!
**Disclaimer: Please see Notice from the DOE’s SPR
Project Management Office for specifics of the gasoline sale. **