Govt sells 11 mln barrels emergency oil
Latest Business News and Financial Information | Reuters.com
Wed Sep 14, 2005 9:03 AM ET
WASHINGTON (Reuters) - The U.S. Energy Department on Wednesday accepted bids from energy companies to buy 11 million barrels of crude oil from the government's emergency petroleum stockpile to help replace supplies disrupted by Hurricane Katrina, a spokesman said.
The companies that bought the oil from the Strategic Petroleum Reserve include BP, Marathon, Shell, Astra Oil and Vitol SA Inc, according to DOE.
The Bush administration had offered to sell 30 million barrels of crude from the emergency stockpile after most oil production in the Gulf of Mexico was cut off and major refineries and pipelines were shut down because of the storm.
Wed Sep 14, 2005 9:03 AM ET
WASHINGTON (Reuters) - The U.S. Energy Department on Wednesday accepted bids from energy companies to buy 11 million barrels of crude oil from the government's emergency petroleum stockpile to help replace supplies disrupted by Hurricane Katrina, a spokesman said.
The companies that bought the oil from the Strategic Petroleum Reserve include BP, Marathon, Shell, Astra Oil and Vitol SA Inc, according to DOE.
The Bush administration had offered to sell 30 million barrels of crude from the emergency stockpile after most oil production in the Gulf of Mexico was cut off and major refineries and pipelines were shut down because of the storm.
posted by Marcel at 7:50 AM
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