Granholm: US may accelerate oil reserve refill rate

05 Jun 2024 CW Team

According to Reuters, Energy Secretary Jennifer Granholm stated that the US could expedite the replenishment of the Strategic Petroleum Reserve once maintenance on the stockpile concludes by the end of the year. Granholm expressed her belief that the global oil market is adequately supplied and indicated that she does not anticipate a significant rise in oil and gas prices in the near future.

The Energy Department has been purchasing approximately 3 million barrels of oil per month for the Strategic Petroleum Reserve this year, following the sale of 180 million barrels in 2022 after Russia's invasion of Ukraine. This sale, the largest ever from the SPR, was aimed at stabilizing gasoline prices post-invasion. However, it depleted the reserve to its lowest levels in 40 years, drawing criticism from Republicans who argued that it left the US emergency oil buffer too sparse.

Granholm mentioned in an interview with Reuters that the pace of purchasing, which is currently at 3 million barrels per month, could increase. She explained that maintenance work on a couple of the SPR's four sites on the coasts of Texas and Louisiana has been ongoing. Granholm added that all four sites are expected to be operational again by the end of the year, suggesting that the purchasing rate could escalate depending on market conditions.

The US has repurchased approximately 38.6 million barrels and revoked congressionally mandated sales of 140 million barrels through 2027. The administration has expressed its intention to continue buying oil as long as the price remains below $80 a barrel.

Infrastructure Transport

08 Oct 2025

GMLR’s First Flyover To Open By May 2026, Says BMC

The Brihanmumbai Municipal Corporation (BMC) has announced that the first flyover of the Goregaon–Mulund Link Road (GMLR) project will be ready for use by May 2026.The GMLR, one of Mumbai’s most ambitious infrastructure ventures, involves a 12.2-kilometre corridor comprising tunnels, flyovers, and interchanges, built at an estimated cost of Rs 140 billion. The project aims to provide a seamless connection between Mumbai’s western and eastern suburbs, drastically reducing travel time and congestion.The first phase features a 1.2-kilometre flyover, beginning near Dindoshi Court and extendi..

Assam Awaits Nod For Rs 60 Billion Brahmaputra Tunnel

Assam’s ambitious Rs 60 billion underwater tunnel project, India’s first to be built beneath a major river, is awaiting Union Cabinet approval, according to a report by The Times of India. The proposed tunnel will connect Numaligarh and Gohpur under the Brahmaputra River, significantly improving road connectivity and strengthening strategic infrastructure near Arunachal Pradesh, which borders China.Estimated to take five years to complete, the project marks a major milestone in India’s transport and defence infrastructure planning. “The Detailed Project Report (DPR) is ready and will s..

Kochi Set To Commission South India’s First Hydrogen Station

Kerala is gearing up to embrace the fuel of the future — green hydrogen, with South India’s first green hydrogen plant and refuelling station nearing commissioning on the Cochin International Airport (CIAL) premises. The project marks a major milestone in India’s clean energy transition and could soon power the Kochi Water Metro and selected e-feeder services of the Kochi Metro.The project is being implemented by Bharat Petroleum Corporation Limited (BPCL) in collaboration with CIAL, featuring a 1,000-kilowatt facility at Nedumbassery. BPCL has also finalised plans for a second hydrogen ..