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EspañolGLOBAL STRATEGIC PETROLEUM RESERVES
Strategic petroleum reserves ("SPR") refer to crude oil inventories (or stockpiles) held by the government of a particular country, as well as private industry, for the purpose of providing economic and national security during an energy crisis. According to the United States Energy Information Administration, approximately 4.1 billion barrels of oil are held in strategic reserves, of which 1.4 billion is government-controlled. The remainder is held by private industry. At the moment the US Strategic Petroleum Reserve is one of the largest strategic reserves, with much of the remainder held by the other 25 members of the International Energy Agency.[1] Recently, other non-IEA countries have begun creating their own strategic petroleum reserves, with China being the largest of these new reserves.
According to a March 2001 agreement, all 26 members of the International Energy Agency must have a strategic petroleum reserve equal to 90 days of oil imports for their respective country.[2][3]
Only net-exporter members of the IEA are exempt from the reserve requirement. The exempt countries are Canada, Denmark, Norway, and the United Kingdom. Denmark and the U.K. have both recently created strategic reserves due to their requirements as European Union members.
In addition to maintaining a domestic stockpile of petroleum, several countries also have agreements to share their stockpiles in the event of an emergency.
In mid-2007 Japan announced a program to share its strategic reserve with other countries in its region. Negotiations are currently underway with New Zealand on an emergency oil-sharing program whereby Japan would make available for purchase its strategic reserves. In an emergency New Zealand would pay the market price plus negotiated option fees for the amount of oil previously held for them by Japan.[4]
South Korea and Japan have also agreed to share their oil reserves in case of an emergency. [5]
According to the 1975 Second Sinai withdrawal document signed by the United States and Israel, in an emergency the U.S. is obligated to make oil available for sale to Israel for up to 5 years.[6]
France, Germany and Italy have an oil-sharing agreement to allow each other to purchase their strategic reserves in the event of an emergency.[4]
South Africa has a SPR. It is managed by PetroSA and the primary facility is the Saldanha Bay oil storage facility, which is a major transit point for oil shipping.[8] Saldanha Bay's six in-ground concrete storage tanks give the facility a storage capacity of '45 million barrels.'[9]
In 2007 China announced an expansion of their crude reserves into a two part system. Chinese reserves would consist of a government-controlled strategic reserve complimented by mandated commercial reserves.[10] This new joint government/enterprise strategic reserve plan is the followup to a March 2007 announcement on the construction of a second strategic reserve with an additional '209.44 million barrels'.[11]
★ Government Reserves; '101.9 million barrel' strategic reserve
★
★ Central government, National Development and Reform Commission(NDRC)[12]
★
★
★ Dalian, Liaoning Province. Approximate planned capacity 19 million barrels (3,000,000 m³), planned completion 2008.
★
★
★ Qingdao, Shandong Province. Approximate planned capacity 19 million barrels (3,000,000 m³), planned completion 2008.
★
★
★ Zhenhai, Zhejiang Province. 52 storage tanks with a capacity of 33 million barrels (5,200,000 m³), 37 million barrels filled as of May 2007. [13][14][15][16]
★
★
★ Zhoushan, Zhejiang Province. Approximate planned capacity 33 million barrels (5,200,000 m³), 7.6 million barrels filled as of June 2007.[17]
★
★ Oil reserve base controlled by local governments
★
★
★ Guangdong Province has begun plans for a reserve.
★
★
★ Hainan Province has begun plans for a reserve.[18]
★ Enterprise Reserves; '209.44 million barrel' strategic reserve
★
★ Commercial oil reserves by major Chinese oil companies, PetroChina, Sinopec and CNOOC
★
★
★ PetroChina facility, Shanshan County, Xinjiang Uygur Autonomous Region. Planned capacity of 50.9 million barrels.
★
★
★ PetroChina facility, Tieling, Liaoning Province. 8 storage tanks with a capacity of 5.03 million barrels, completion October 2008[19]
★
★
★ Sinopec facility, Shanghai, under construction
★
★
★ Sinopec facility, Ningbo, under construction
★
★
★ Sinopec facility, Zhanjiang, under construction
★
★
★ Sinopec facility, Caofeidian, under construction[20]
★
★
★ Sinochem facility, under construction
★
★
★ Unknown company, Heilongjiang Province
★
★
★ Unknown company, Gansu Province
★
★ Oil storage reserves by medium and small Chinese oil companies
India has begun the development of a strategic crude oil reserve sized at '37.4 million barrels', enough for two weeks of consumption.[21] Petroleum stocks have been transferred from Indian Oil Corporation (IndianOil) to the Oil Industry Development Board (OIDB).[22] The OIBD then created the Indian Strategic Petroleum Reserves Ltd (ISPRL) to serve as the controlling government agency for the strategic reserve.[23]
The facilities are:
★ Mangalore, State of Karnataka. Capacity of 11.22 million barrels.
★ Padur village, Udipi in the state of Karnataka. Capacity of 18.7 million barrels.[24]
★ Visakhapatnam, State of Andhra Pradesh. Capacity of 7.48 million barrels.
As of 2003 Japan has a SPR composed of the following three types of stockpiles:
★ State controlled reserves of petroleum at ten different locations totaling '320 million barrels'. ''All storage numbers, unless otherwise cited, come from p.177 of this document: [3]''
★
★ Tomakomai Eastern Oil Reserve Storage Base, 55 storage tanks, total capacity 34 million barrels.
★
★ Mutsu-Ogawara Storage Base, 53 storage tanks, total capacity 31 million barrels.
★
★ Kuji Storage Base, 3 storage tanks, total capacity 10.5 million barrels.
★
★ Akita Storage Base, 15 storage tanks, total capacity 23.4 million barrels.
★
★ Fukui Storage Base, 27 storage tanks, total capacity 17.9 million barrels.
★
★ Kikuma Underground Petroleum Storage Facility, 8 storage tanks, total capacity 8.9 million barrels.
★
★ Shirashima Storage Facility, 8 tankers (4.4 million barrels each), total capacity 35.2 million barrels.[25]
★
★ Kamigotou Storage Base, 7 storage tanks, total capacity 21.45 million barrels.
★
★ Kushikino Storage Base, 3 storage tanks, total capacity 10.5 million barrels.
★
★ Shibushi Storage Base, 40 storage tanks, total capacity 27.6 million barrels.
★ Privately held reserves of petroleum held "in accordance with the Petroleum Stockpiling Law" of '129 million barrels'.[26]
★ Privately held reserves of petroleum products for another '130 million barrels'.
The state stockpile equals about 92 days of consumption and the privately held stockpiles equal another 77 days of consumption for a total of 169 days or '579 million barrels'.[27][28] The Japanese SPR is run by the Japan Oil, Gas and Metals National Corporation.[4]
Russia has begun plans for a strategic petroleum reserve. Analysts estimate the size of the Russian SPR would be around '78 million barrels'.[29][30]
Singapore has a SPR composed of 31.8 million barrels of crude oil with an additional 64.5 million barrels of oil products for a total of '96.3 million barrels'.[31]
South Korea has a SPR composed of '76 million barrels', equal to about 57 days of consumption. They recently announced plans to increase their SPR to around '141 million barrels' by 2010.[32]
Taiwan has a SPR with a 1999 reported size of '13 million barrels'.[33]
Thailand has recently increased the size of its SPR from 60 days to '70 days of consumption'.[34]
In the European Union, according to a Council Directive 68/414/EEC of 20 December 1968, all 27 members must have a strategic petroleum within the territory of the E.U. equal to at least '90 days average daily internal consumption'.[35]
The Czech Republic has a four tank SPR facility in Nelahozeves run by the company CR Mero.[36] The Czech SPR is equal to 100 days of consumption or '2.03 million barrels.'[37]
Denmark has recently created a strategic reserve, the size is unknown.
Finland has a SPR with an approximate size of '62.4 million barrels'.[38]
France has a SPR with an approximate size of '65 million barrels'.[39] France is also the only country in the world to hold strategic stocks of jet fuel. As of 2000 jet fuel stocks were required for at least 55 days of consumption, with half of those stocks controlled by the ''Société Anonyme de Gestion des Stocks de Sécuritié'' (SAGESS) and the other half controlled by producers.[40]
Germany created the Federal Oil Reserve in 1970, stored in the Etzel salt caverns near Wilhelmshaven in northern Germany, with an initial size of 70 million barrels.[41] The current German Federal Oil Reserve and the Erdolbevorratungsverband (EBV)(the German stockholding company) mandates that refiners must keep 90 days of stock on hand, giving Germany an approximate reserve size of '250 million barrels' as of 1997.[42] The German SPR is the largest in Europe.
Hungary has a SPR with approximately 90 days of consumption or '11.88 million barrels.'[43]
Poland has a SPR with approximately '70 days of consumption'.[44] Another facility holding 20 additional days of consumption is scheduled to be completed in 2008.[36]
Portugal has a SPR with an approximate size of '22.44 million barrels'.[46]
Slovakia has a SPR with an approximate size of '748,000 barrels.'[37]
Spain has a SPR with an approximate size of '120 million barrels'.[48]
Sweden has a SPR with an approximate size of '13.29 million barrels'.[49]
The United Kingdom has recently created a strategic reserve, the size is unknown.
In April 2006 the Fars News Agency reported that Iran has begun plans to create a SPR. The National Iranian Oil Company (NIOC) has begun construction of 15 crude oil storage tanks with a planned capacity of '10 million barrels'.[50] The planned facilities are:
★ Ahwaz. 4 storage tanks, total capacity 2 million barrels.
★ Omidiyeh. 3 storage tanks, total capacity 3 million barrels.
★ Goureh. 6 storage tanks, total capacity 4 million barrels.
★ Sirri Island. 1 storage tank, total capacity 500,000 barrels.
★ Bahregansar. 1 storage tank, total capacity 500,000 barrels.
As of 1975 Israel is believed to have a strategic oil reserve equal to '270 days' of consumption.
Jordan has strategic oil reserves equal to '60 days' of consumption or '6.24 million barrels'.[51]
The United States has the largest reported Strategic Petroleum Reserve with a total capacity of '727 million barrels'. If completely filled, the US SPR could theoretically replace about '60 days' of oil imports.[52] The U.S. facilities are:
★ Bryan Mound - located near Freeport, Texas. Capacity of 226 million barrels (36,000,000 m³).
★ Big Hill - located near Winnie, Texas. Capacity of 160 million barrels (25,000,000 m³).
★ West Hackberry - located near Lake Charles, Louisiana. Capacity of 219 million barrels (35,000,000 m³).
★ Bayou Choctaw - located near Baton Rouge, Louisiana. Capacity of 72 million barrels (11,000,000 m³).
★ Richton, Mississippi. A new facility the capacity is unknown.
Australia has a strategic reserve with both petroleum and petroleum products equal to 10 days of consumption or '8.77 million barrels'.[53]
New Zealand has begun plans to create a strategic reserve with a proposed size of 190,000 tons or '1.42 million barrels'.[54]
The Philippines has begun plans for a National Petroleum Strategic Reserve by 2010 with an approximate size of '30 million barrels'.[55]
★ Energy security
★ Strategic reserve
1. Fact Sheet on IEA Oil Stocks and Emergency Response Potential
2. [1]
3. [2]
4. http://www.rigzone.com/news/article.asp?a_id=49325
5. http://www.iht.com/articles/ap/2007/06/18/business/AS-FIN-SKorea-Japan-Oil.php
6. http://www.heritage.org/Research/MiddleEast/bg76.cfm
7. http://www.rigzone.com/news/article.asp?a_id=49325
8. http://www.southafrica.info/doing_business/economy/key_sectors/energy.htm
9. http://fred.csir.co.za/www/sff/oil.htm
10. http://www.chinanews.cn//news/2007-07-19/37721.html
11. China to fill its 3rd strategic oil reserve
12. http://www.chinadaily.com.cn/english/doc/2005-06/10/content_450449.htm
13. http://www.gulfnews.com/business/Oil_and_Gas/10125763.html
14. http://www.financialexpress-bd.com/index3.asp?cnd=10/20/2006§ion_id=4&newsid=41371&spcl=no
15. http://www.forbes.com/markets/feeds/afx/2007/01/18/afx3338677.html
16. Official: China starts filling strategic oil reserve
17. China and Saudi Arabia: interesting SPR team up?
18. http://english.cri.cn/3130/2007/06/28/262@243241.htm
19. http://www.csc.mofcom.gov.cn/csweb/sacc/info/Article.jsp?a_no=77726&col_no=617
20. http://www.reuters.com/article/mergersNews/idUSHKG28096420070827
21. http://www.gasandoil.com/goc/news/nts43834.htm
22. http://www.thehindubusinessline.com/2006/04/02/stories/2006040202220200.htm
23. http://economictimes.indiatimes.com/India_to_form_crude_oil_reserve_of_5_mmt/articleshow/2137148.cms
24. http://www.deccanherald.com/deccanherald/apr42005/national153423200543.asp
25. http://minerals.usgs.gov/minerals/pubs/country/1998/9314098.pdf
26. http://www.enecho.meti.go.jp/english/energy/japan/oilinfo.html
27. Energy Security in East Asia
28. Energy Security Initiative
29. [5]
30. http://www.energybulletin.net/11386.html
31. http://www.opinionasia.org/Aregionalapproachtostrategicoilreserves
32. Bush Oil Reserve May Support Prices as Asia Also Buys
33. Improving Energy Security Through an International Cooperative Approach to Strategic Oil Stocks
34. http://www.bruneitimes.com.bn/section/opinion/26Dec2006-4.php
35. Council Directive 68/414/EEC of 20 December 1968 imposing an obligation on Member States of the EEC to maintain minimum stocks of crude oil and/or petroleum products
36. http://www.eia.doe.gov/emeu/cabs/visegrad.html
37. European Leaders Fire Up Over Russian Oil Cut
38. http://english.people.com.cn/200509/09/eng20050909_207507.html
39. http://www.ambafrance-us.org/news/statmnts/2005/oilreserve_katrina_090205.asp
40. http://www.iea.org/textbase/nppdf/free/2000/oilsecu2001.pdf
41. http://www0.gsb.columbia.edu/faculty/ghubbard/Articles%20for%20Web%20Site/Managing%20the%20Strategic%20Petroleum%20Reserve_Energy%20Policy%20in%20a%20.pdf
42. http://www.pennwellpetroleumgroup.com/Articles/Article_Display.cfm?ARTICLE_ID=114993&Section=ARTCL
43. http://www.abcmoney.co.uk/news/6200783775.htm
44. http://news.yahoo.com/s/ap/20070108/ap_on_bi_ge/belarus_russia_oil_5
45. http://www.eia.doe.gov/emeu/cabs/visegrad.html
46. http://findarticles.com/p/articles/mi_kmafp/is_200509/ai_n15327212
47. European Leaders Fire Up Over Russian Oil Cut
48. Staff Writer. "El Consejo de Ministros aprueba el envío del 2% de las reservas de crudo para ayudar a EEUU." ''El Mundo.'' September 9, 2005. Retrieved on June 10, 2006. Article in Spanish.
49. http://english.people.com.cn/200509/16/eng20050916_208886.html
50. http://www.eia.doe.gov/emeu/cabs/Iran/pdf.pdf
51. http://www.tradeportalofindia.com/contentmgmt/Desktops2.asp?itemcode=I484&compid=itpo
52. See Strategic Petroleum Reserve
53. http://www.energybulletin.net/1691.html
54. http://www.med.govt.nz/templates/MultipageDocumentTOC____14941.aspx
55. http://www.energybulletin.net/8226.html
For more on APEC strategic reserves:
★ http://pzl1.ed.ornl.gov/APECSizeIAEEPaperFinal_Proceedings.pdf
★ http://www.ieej.or.jp/aperc/2002pdf/OilStocks2002.pdf
For more info on the IEA reserves:
★ http://www.iea.org/dbtw-wpd/Textbase/work/2003/asean/CZECH.PDF
International Energy Agency reserves
According to a March 2001 agreement, all 26 members of the International Energy Agency must have a strategic petroleum reserve equal to 90 days of oil imports for their respective country.[2][3]
Only net-exporter members of the IEA are exempt from the reserve requirement. The exempt countries are Canada, Denmark, Norway, and the United Kingdom. Denmark and the U.K. have both recently created strategic reserves due to their requirements as European Union members.
Emergency oil sharing agreements
In addition to maintaining a domestic stockpile of petroleum, several countries also have agreements to share their stockpiles in the event of an emergency.
The Japan, New Zealand and South Korea agreement
In mid-2007 Japan announced a program to share its strategic reserve with other countries in its region. Negotiations are currently underway with New Zealand on an emergency oil-sharing program whereby Japan would make available for purchase its strategic reserves. In an emergency New Zealand would pay the market price plus negotiated option fees for the amount of oil previously held for them by Japan.[4]
South Korea and Japan have also agreed to share their oil reserves in case of an emergency. [5]
The United States and Israel agreement
According to the 1975 Second Sinai withdrawal document signed by the United States and Israel, in an emergency the U.S. is obligated to make oil available for sale to Israel for up to 5 years.[6]
The France, Germany, and Italy agreement
France, Germany and Italy have an oil-sharing agreement to allow each other to purchase their strategic reserves in the event of an emergency.[4]
Africa
South Africa has a SPR. It is managed by PetroSA and the primary facility is the Saldanha Bay oil storage facility, which is a major transit point for oil shipping.[8] Saldanha Bay's six in-ground concrete storage tanks give the facility a storage capacity of '45 million barrels.'[9]
Asia
China
In 2007 China announced an expansion of their crude reserves into a two part system. Chinese reserves would consist of a government-controlled strategic reserve complimented by mandated commercial reserves.[10] This new joint government/enterprise strategic reserve plan is the followup to a March 2007 announcement on the construction of a second strategic reserve with an additional '209.44 million barrels'.[11]
China's reserve structure
★ Government Reserves; '101.9 million barrel' strategic reserve
★
★ Central government, National Development and Reform Commission(NDRC)[12]
★
★
★ Dalian, Liaoning Province. Approximate planned capacity 19 million barrels (3,000,000 m³), planned completion 2008.
★
★
★ Qingdao, Shandong Province. Approximate planned capacity 19 million barrels (3,000,000 m³), planned completion 2008.
★
★
★ Zhenhai, Zhejiang Province. 52 storage tanks with a capacity of 33 million barrels (5,200,000 m³), 37 million barrels filled as of May 2007. [13][14][15][16]
★
★
★ Zhoushan, Zhejiang Province. Approximate planned capacity 33 million barrels (5,200,000 m³), 7.6 million barrels filled as of June 2007.[17]
★
★ Oil reserve base controlled by local governments
★
★
★ Guangdong Province has begun plans for a reserve.
★
★
★ Hainan Province has begun plans for a reserve.[18]
★ Enterprise Reserves; '209.44 million barrel' strategic reserve
★
★ Commercial oil reserves by major Chinese oil companies, PetroChina, Sinopec and CNOOC
★
★
★ PetroChina facility, Shanshan County, Xinjiang Uygur Autonomous Region. Planned capacity of 50.9 million barrels.
★
★
★ PetroChina facility, Tieling, Liaoning Province. 8 storage tanks with a capacity of 5.03 million barrels, completion October 2008[19]
★
★
★ Sinopec facility, Shanghai, under construction
★
★
★ Sinopec facility, Ningbo, under construction
★
★
★ Sinopec facility, Zhanjiang, under construction
★
★
★ Sinopec facility, Caofeidian, under construction[20]
★
★
★ Sinochem facility, under construction
★
★
★ Unknown company, Heilongjiang Province
★
★
★ Unknown company, Gansu Province
★
★ Oil storage reserves by medium and small Chinese oil companies
India
India has begun the development of a strategic crude oil reserve sized at '37.4 million barrels', enough for two weeks of consumption.[21] Petroleum stocks have been transferred from Indian Oil Corporation (IndianOil) to the Oil Industry Development Board (OIDB).[22] The OIBD then created the Indian Strategic Petroleum Reserves Ltd (ISPRL) to serve as the controlling government agency for the strategic reserve.[23]
The facilities are:
★ Mangalore, State of Karnataka. Capacity of 11.22 million barrels.
★ Padur village, Udipi in the state of Karnataka. Capacity of 18.7 million barrels.[24]
★ Visakhapatnam, State of Andhra Pradesh. Capacity of 7.48 million barrels.
Japan
As of 2003 Japan has a SPR composed of the following three types of stockpiles:
★ State controlled reserves of petroleum at ten different locations totaling '320 million barrels'. ''All storage numbers, unless otherwise cited, come from p.177 of this document: [3]''
★
★ Tomakomai Eastern Oil Reserve Storage Base, 55 storage tanks, total capacity 34 million barrels.
★
★ Mutsu-Ogawara Storage Base, 53 storage tanks, total capacity 31 million barrels.
★
★ Kuji Storage Base, 3 storage tanks, total capacity 10.5 million barrels.
★
★ Akita Storage Base, 15 storage tanks, total capacity 23.4 million barrels.
★
★ Fukui Storage Base, 27 storage tanks, total capacity 17.9 million barrels.
★
★ Kikuma Underground Petroleum Storage Facility, 8 storage tanks, total capacity 8.9 million barrels.
★
★ Shirashima Storage Facility, 8 tankers (4.4 million barrels each), total capacity 35.2 million barrels.[25]
★
★ Kamigotou Storage Base, 7 storage tanks, total capacity 21.45 million barrels.
★
★ Kushikino Storage Base, 3 storage tanks, total capacity 10.5 million barrels.
★
★ Shibushi Storage Base, 40 storage tanks, total capacity 27.6 million barrels.
★ Privately held reserves of petroleum held "in accordance with the Petroleum Stockpiling Law" of '129 million barrels'.[26]
★ Privately held reserves of petroleum products for another '130 million barrels'.
The state stockpile equals about 92 days of consumption and the privately held stockpiles equal another 77 days of consumption for a total of 169 days or '579 million barrels'.[27][28] The Japanese SPR is run by the Japan Oil, Gas and Metals National Corporation.[4]
Others
Russia has begun plans for a strategic petroleum reserve. Analysts estimate the size of the Russian SPR would be around '78 million barrels'.[29][30]
Singapore has a SPR composed of 31.8 million barrels of crude oil with an additional 64.5 million barrels of oil products for a total of '96.3 million barrels'.[31]
South Korea has a SPR composed of '76 million barrels', equal to about 57 days of consumption. They recently announced plans to increase their SPR to around '141 million barrels' by 2010.[32]
Taiwan has a SPR with a 1999 reported size of '13 million barrels'.[33]
Thailand has recently increased the size of its SPR from 60 days to '70 days of consumption'.[34]
Europe
In the European Union, according to a Council Directive 68/414/EEC of 20 December 1968, all 27 members must have a strategic petroleum within the territory of the E.U. equal to at least '90 days average daily internal consumption'.[35]
The Czech Republic has a four tank SPR facility in Nelahozeves run by the company CR Mero.[36] The Czech SPR is equal to 100 days of consumption or '2.03 million barrels.'[37]
Denmark has recently created a strategic reserve, the size is unknown.
Finland has a SPR with an approximate size of '62.4 million barrels'.[38]
France has a SPR with an approximate size of '65 million barrels'.[39] France is also the only country in the world to hold strategic stocks of jet fuel. As of 2000 jet fuel stocks were required for at least 55 days of consumption, with half of those stocks controlled by the ''Société Anonyme de Gestion des Stocks de Sécuritié'' (SAGESS) and the other half controlled by producers.[40]
Germany created the Federal Oil Reserve in 1970, stored in the Etzel salt caverns near Wilhelmshaven in northern Germany, with an initial size of 70 million barrels.[41] The current German Federal Oil Reserve and the Erdolbevorratungsverband (EBV)(the German stockholding company) mandates that refiners must keep 90 days of stock on hand, giving Germany an approximate reserve size of '250 million barrels' as of 1997.[42] The German SPR is the largest in Europe.
Hungary has a SPR with approximately 90 days of consumption or '11.88 million barrels.'[43]
Poland has a SPR with approximately '70 days of consumption'.[44] Another facility holding 20 additional days of consumption is scheduled to be completed in 2008.[36]
Portugal has a SPR with an approximate size of '22.44 million barrels'.[46]
Slovakia has a SPR with an approximate size of '748,000 barrels.'[37]
Spain has a SPR with an approximate size of '120 million barrels'.[48]
Sweden has a SPR with an approximate size of '13.29 million barrels'.[49]
The United Kingdom has recently created a strategic reserve, the size is unknown.
Middle East
Iran
In April 2006 the Fars News Agency reported that Iran has begun plans to create a SPR. The National Iranian Oil Company (NIOC) has begun construction of 15 crude oil storage tanks with a planned capacity of '10 million barrels'.[50] The planned facilities are:
★ Ahwaz. 4 storage tanks, total capacity 2 million barrels.
★ Omidiyeh. 3 storage tanks, total capacity 3 million barrels.
★ Goureh. 6 storage tanks, total capacity 4 million barrels.
★ Sirri Island. 1 storage tank, total capacity 500,000 barrels.
★ Bahregansar. 1 storage tank, total capacity 500,000 barrels.
Others
As of 1975 Israel is believed to have a strategic oil reserve equal to '270 days' of consumption.
Jordan has strategic oil reserves equal to '60 days' of consumption or '6.24 million barrels'.[51]
North America
The United States has the largest reported Strategic Petroleum Reserve with a total capacity of '727 million barrels'. If completely filled, the US SPR could theoretically replace about '60 days' of oil imports.[52] The U.S. facilities are:
★ Bryan Mound - located near Freeport, Texas. Capacity of 226 million barrels (36,000,000 m³).
★ Big Hill - located near Winnie, Texas. Capacity of 160 million barrels (25,000,000 m³).
★ West Hackberry - located near Lake Charles, Louisiana. Capacity of 219 million barrels (35,000,000 m³).
★ Bayou Choctaw - located near Baton Rouge, Louisiana. Capacity of 72 million barrels (11,000,000 m³).
★ Richton, Mississippi. A new facility the capacity is unknown.
Pacific Rim
Australia has a strategic reserve with both petroleum and petroleum products equal to 10 days of consumption or '8.77 million barrels'.[53]
New Zealand has begun plans to create a strategic reserve with a proposed size of 190,000 tons or '1.42 million barrels'.[54]
The Philippines has begun plans for a National Petroleum Strategic Reserve by 2010 with an approximate size of '30 million barrels'.[55]
See also
★ Energy security
★ Strategic reserve
References
1. Fact Sheet on IEA Oil Stocks and Emergency Response Potential
2. [1]
3. [2]
4. http://www.rigzone.com/news/article.asp?a_id=49325
5. http://www.iht.com/articles/ap/2007/06/18/business/AS-FIN-SKorea-Japan-Oil.php
6. http://www.heritage.org/Research/MiddleEast/bg76.cfm
7. http://www.rigzone.com/news/article.asp?a_id=49325
8. http://www.southafrica.info/doing_business/economy/key_sectors/energy.htm
9. http://fred.csir.co.za/www/sff/oil.htm
10. http://www.chinanews.cn//news/2007-07-19/37721.html
11. China to fill its 3rd strategic oil reserve
12. http://www.chinadaily.com.cn/english/doc/2005-06/10/content_450449.htm
13. http://www.gulfnews.com/business/Oil_and_Gas/10125763.html
14. http://www.financialexpress-bd.com/index3.asp?cnd=10/20/2006§ion_id=4&newsid=41371&spcl=no
15. http://www.forbes.com/markets/feeds/afx/2007/01/18/afx3338677.html
16. Official: China starts filling strategic oil reserve
17. China and Saudi Arabia: interesting SPR team up?
18. http://english.cri.cn/3130/2007/06/28/262@243241.htm
19. http://www.csc.mofcom.gov.cn/csweb/sacc/info/Article.jsp?a_no=77726&col_no=617
20. http://www.reuters.com/article/mergersNews/idUSHKG28096420070827
21. http://www.gasandoil.com/goc/news/nts43834.htm
22. http://www.thehindubusinessline.com/2006/04/02/stories/2006040202220200.htm
23. http://economictimes.indiatimes.com/India_to_form_crude_oil_reserve_of_5_mmt/articleshow/2137148.cms
24. http://www.deccanherald.com/deccanherald/apr42005/national153423200543.asp
25. http://minerals.usgs.gov/minerals/pubs/country/1998/9314098.pdf
26. http://www.enecho.meti.go.jp/english/energy/japan/oilinfo.html
27. Energy Security in East Asia
28. Energy Security Initiative
29. [5]
30. http://www.energybulletin.net/11386.html
31. http://www.opinionasia.org/Aregionalapproachtostrategicoilreserves
32. Bush Oil Reserve May Support Prices as Asia Also Buys
33. Improving Energy Security Through an International Cooperative Approach to Strategic Oil Stocks
34. http://www.bruneitimes.com.bn/section/opinion/26Dec2006-4.php
35. Council Directive 68/414/EEC of 20 December 1968 imposing an obligation on Member States of the EEC to maintain minimum stocks of crude oil and/or petroleum products
36. http://www.eia.doe.gov/emeu/cabs/visegrad.html
37. European Leaders Fire Up Over Russian Oil Cut
38. http://english.people.com.cn/200509/09/eng20050909_207507.html
39. http://www.ambafrance-us.org/news/statmnts/2005/oilreserve_katrina_090205.asp
40. http://www.iea.org/textbase/nppdf/free/2000/oilsecu2001.pdf
41. http://www0.gsb.columbia.edu/faculty/ghubbard/Articles%20for%20Web%20Site/Managing%20the%20Strategic%20Petroleum%20Reserve_Energy%20Policy%20in%20a%20.pdf
42. http://www.pennwellpetroleumgroup.com/Articles/Article_Display.cfm?ARTICLE_ID=114993&Section=ARTCL
43. http://www.abcmoney.co.uk/news/6200783775.htm
44. http://news.yahoo.com/s/ap/20070108/ap_on_bi_ge/belarus_russia_oil_5
45. http://www.eia.doe.gov/emeu/cabs/visegrad.html
46. http://findarticles.com/p/articles/mi_kmafp/is_200509/ai_n15327212
47. European Leaders Fire Up Over Russian Oil Cut
48. Staff Writer. "El Consejo de Ministros aprueba el envío del 2% de las reservas de crudo para ayudar a EEUU." ''El Mundo.'' September 9, 2005. Retrieved on June 10, 2006. Article in Spanish.
49. http://english.people.com.cn/200509/16/eng20050916_208886.html
50. http://www.eia.doe.gov/emeu/cabs/Iran/pdf.pdf
51. http://www.tradeportalofindia.com/contentmgmt/Desktops2.asp?itemcode=I484&compid=itpo
52. See Strategic Petroleum Reserve
53. http://www.energybulletin.net/1691.html
54. http://www.med.govt.nz/templates/MultipageDocumentTOC____14941.aspx
55. http://www.energybulletin.net/8226.html
External links
For more on APEC strategic reserves:
★ http://pzl1.ed.ornl.gov/APECSizeIAEEPaperFinal_Proceedings.pdf
★ http://www.ieej.or.jp/aperc/2002pdf/OilStocks2002.pdf
For more info on the IEA reserves:
★ http://www.iea.org/dbtw-wpd/Textbase/work/2003/asean/CZECH.PDF
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