Energy Department Plans NEHHOR Purchase
Posted on: Tuesday, 24 June 2008, 15:03 CDT
The U.S. Department of Energy says it wants to buy $3 million in heating oil for the Northeast Home Heating Oil Reserve.
The Northeast Home Heating Oil Reserve, or NEHHOR, was created in 2000 to provide a buffer large enough to compensate for heating oil supply interruptions or severe winter conditions in the northeastern area of the nation for approximately 10 days.
Energy department officials said no impact on market prices is expected to result from the NEHHOR solicitation due to the modest volume of heating oil expected to be purchased. Two million barrels has been determined to be sufficient for the 10-day period, with NEHHOR currently holding 1.965 million barrels.
Offers are due no later than July 1, with purchases expected to be delivered during the week of July 7. The solicitation is being made on behalf of the Energy Department through the Defense Energy Support Center.
Source: United Press International
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