Northeast Heating Oil Reserve InventoriesCheck out Today in Energy - highlighting current issues, topics, and data trends in short articles published every weekday.
Subscribe at EIA.gov.
Northeast Heating Oil Reserve Inventories
On February 1, 2011, DOE announced its plan to convert the 1,984,253 barrel inventory of the Northeast Heating Oil Reserve (NEHOR) to cleaner burning ultra-low sulfur distillate. The first phase of this transition occurred on February 3, 2011, whereby DOE conducted a competitive on-line sale for the new initiative, selling 984,253 barrels of heating oil from the Hess First Reserve Terminal in Perth Amboy, NJ. Beginning with the Weekly Petroleum Supply Report for the week ending February 11, 2011, these volumes are included in the stocks data reported in PADD 1B.
The second phase of this initiative involved the sale of the remaining 1,000,000 barrels of NEHOR stocks held in Groton and New Haven, CT, on February 10, 2011. Beginning with the Weekly Petroleum Supply Report for the week ending February 18, 2011, these volumes will be included in the stocks data reported in PADD 1A.
DOE plans to use the receipts from these sales to purchase ultra-low sulfur heating oil to refill this reserve prior to the 2011-2012 heating oil season.
Posted: February 17, 2011
More Government & Politics »