FACTBOX: Oil releases from U.S. Strategic Petroleum Reserve

(Reuters) - The U.S. Department of Energy said on Thursday it will release crude from the nation's Strategic Petroleum Reserve if Tropical Storm Gustav causes severe supply disruption.

The SPR, the world's largest emergency oil stockpile, was created by the Congress after the 1973-74 Arab oil embargo. As of August 22, it holds 707.2 million barrels of crude oil in 62 underground salt caverns along the Texas and Louisiana coastline.

Only the president has the authority to release oil from the stockpile. In July, lawmakers pushed the White House to tap the SPR and release 70 million barrels, or 10 percent of its stockpile, into the market to help ease high gas prices.

Heavy opposition stopped a House bill in favor of the oil sale as Republicans protested that the reserve was meant to offset major oil supply disruptions and not to rein in soaring crude prices.

The U.S. government has released oil supplies from the SPR on many occasions to offset supply disruptions.

The following lists oil sales and loans made by the U.S. government from the SPR :

OIL SALES:

* 1985 Test Sale - 1.1 million barrels.

* 1990-91 Desert Shield/Storm sale - 21 million barrels. (4 million in August 1990 test sale; 17 million in January 1991 presidentially-ordered drawdown).