Washington (Platts)--14Jul2011/500 pm EDT/2100 GMT

Six buyers of crude from the US emergency stockpile have been cleared to pick up the oil with foreign tankers, a Customs and Border Protection spokeswoman said Thursday.

Four more companies await waivers to the Jones Act, a maritime law that prohibits foreign vessels from carrying shipments between US ports. Spokeswoman Joanne Ferreira said the agency approved four waivers July 8, a fifth on Tuesday and another Thursday. She declined to name the 10 companies seeking waivers.

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"It's a matter of confidentiality and law-enforcement sensitive information," Ferreira said.

The Department of Energy also declined to name the companies. The government could get as many as 14 requests for Jones Act waivers. Bidders opted to pick up 25 million barrels, about 82%, by ship. Another 5.5 million barrels, just under 18%, will flow into pipelines, and the remaining 150,000 barrels, less than 1%, will leave the salt caverns by barge.

The Department of Homeland Security and Maritime Administration promised Strategic Petroleum Reserve bidders that the agencies would process Jones Act waiver requests within 48 hours.

The US sold 30.64 million barrels of light sweet crude from its emergency stocks in Louisiana and Texas. The third-ever presidentially directed release made up half of the International Energy Agency's injection of 60 million stockpiled barrels to respond to the disruption of Libyan oil exports.

SPR crude destined for tankers: