Interpretation of the latest oil storage policy
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Introduction
One recent publication, ANSI/IIAR 6-2025, has introduced a change regarding the storage of oil within machinery rooms. This update impacts how facilities manage their compressor oil and highlights a temporary but important difference with an existing standard. At the end of calendar year 2024, SPR inventory consisted of approximately 394 Mbbl of crude oil in underground storage caverns located in Texas and Louisiana. Reduced demand and falling oil prices have led to a surplus in oil inventories resulting in owners/operators considering options for either expanding existing oil storage capacity or establishing new oil storage facilities. The Strategic Petroleum Reserve (SPR), the world's largest supply of emergency crude oil was established primarily to reduce the impact of disruptions in supplies of petroleum products and to carry out obligations of the United States under the international energy program.
Interpretation of the latest oil storage policy
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