DOE Authorizes 400,000 Bbl SPR Exchange for Phillips 66


   
Miguel E. Andujar
DTN Refined Fuels Market Reporter

   DAVENPORT, FL (DTN) -- The U.S. Department of Energy (DOE) authorized an 
emergency exchange of up to 400,000 bbl of crude oil from the Strategic 
Petroleum Reserve (SPR) to support operations at Phillips 66's 264,000-bpd Lake 
Charles refinery in Louisiana following a disruption to crude oil deliveries.

   The DOE announced Friday (10/23) that the crude will be supplied from its 
West Hackberry SPR site in Louisiana for immediate delivery, helping the 
refinery maintain production of gasoline, diesel and other transportation fuels 
serving regional markets.

   The agency did not identify the cause of the crude supply interruption or 
disclose whether refinery throughput had been affected.

   Under the agreement, Phillips 66 must return the borrowed crude oil along 
with additional premium barrels, replenishing the SPR with more oil than was 
withdrawn.

   Located in Westlake, Louisiana, the refinery has a gasoline production 
capacity of 105,000 bpd and distillate production capacity of 115,000 bpd, 
according to Phillips 66. Its refined products are distributed primarily across 
the southeastern and eastern United States, with additional exports to Latin 
America and Europe.




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