US DOE has received no applications to borrow from products' SPR
Washington (Platts)--30Oct2012/756 pm EDT/2356 GMT
Both New England terminals linked to the US' 1 million-barrel heating
oil stockpile were fully operational Tuesday, despite the passage of
Hurricane Sandy, according to a spokesman for the Department of Energy,
which oversees the reserve.
The DOE has not received any requests to borrow ULSD from the Northeast
Home Heating Oil Reserve, a DOE spokesman said.
"The heating oil terminals took a number of precautionary steps to
prepare for the storm, including assuring the tanks had minimum volumes
to hold them in place, securing all terminal equipment, and suspending
marine and truck operations when conditions deteriorated," the spokesman
said on the condition that he not be named.
The government stockpile is split into two 500,000-barrel reserves,
one at Hess' terminal in Groton, Connecticut, and the other at Global
Companies' terminal in Revere, Massachusetts.
"Preliminary reports indicate that several refiners have weathered the
storm and expect to be back online quickly," the DOE spokesman added.
"DOE continues to monitor the situation closely for potential
shortages."
--Meghan Gordon,
meghan_gordon@platts.com
--Edited by Richard Rubin,
richard_rubin@platts.com
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