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UPDATED: 08:31, September 24, 2004
US Energy Department to discuss the release of oil from SPR
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The US Energy Department said on Thursday it would discuss the release of "a limited quantity" of crude oil from the Strategic Petroleum Reserve (SPR) to ease shortages resulting from Hurricane Ivan.

"I have authorized these negotiations in response to the physical disruption of offshore oil production and imports in the Gulf Region caused by Hurricane Ivan's destruction," Energy Secretary Spencer Abraham said in a statement.

"As this administration has stated consistently, the SPR was designed to protect American consumers against supply disruptions, including natural disasters," he said.

The statement said that the department "intends to enter into negotiations to make available a limited quantity of crude oil from the Strategic Petroleum Reserve (SPR), to help relieve physical shortages of crude oil supplies in the Gulf of Mexico following recent hurricanes."

The White House also said earlier Thursday that it is considering requests from several refiners to tap crude oil from the nation's strategic petroleum reserve to offset supply disruptions along the Gulf Coast from Hurricane Ivan.

Source: Xinhua


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