RUSSIA - Oct. 2 - US To Take Delivery Of Russian Oil.
(The US administration is pushing hard to fill the strategic reserve to capacity. Volatile oil prices, which could soar with an attack on Iraq, already threaten to sink any economic recovery. In Nov. 2001, US Pres. Bush ordered the Department of Energy to fill the reserve to its 700m barrel capacity by 2005. It now stands at more than 586m barrels, the highest it has been since 1994. Most of the oil in the US reserve has been acquired from abroad. The first delivery was 412,000 barrels of Saudi Arabian light crude in 1977. Mexico accounts for about 40% of the supply. In August Kansas City-based Koch Supply and Trading won a bid to supply oil to the petroleum reserve. It will provide 8m barrels, of which the Russian oil is a part).
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|Publication:||APS Diplomat Recorder|
|Article Type:||Brief Article|
|Date:||Oct 5, 2002|
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