Tuesday, May 21, 2024

SPR’s Northeast Gasoline Supply Reserve is having a sale!

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. **