[Federal Register Volume 69, Number 131 (Friday, July 9, 2004)]
[Notices]
[Pages 41461-41464]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 04-15623]


-----------------------------------------------------------------------

DEPARTMENT OF ENERGY

Energy Information Administration


Notice of Energy Information Administration Policy for 
Disseminating Revisions to Petroleum Supply Reporting System Data

AGENCY: Energy Information Administration (EIA), Department of Energy 
(DOE).

ACTION: Notice of Energy Information Administration Policy for 
Disseminating Revisions to Petroleum Supply Reporting System Data.

-----------------------------------------------------------------------

SUMMARY: The EIA is formalizing its existing policy for disseminating 
revisions to Petroleum Supply Reporting System (PSRS) data. PSRS 
information products include data on production, receipts, inputs, 
movements, and stocks of crude oil, petroleum products, and natural gas 
liquids in the United States.

DATES: Comments must be filed by August 9, 2004. If you anticipate 
difficulty in submitting comments within that period, contact the 
person listed below as soon as possible.

ADDRESSES: Comments on this policy should be directed to Stefanie 
Palumbo of EIA's Petroleum Division. To ensure receipt of the comments 
by the due date, submission by Fax (202-586-5846) or e-mail 
([email protected]) is recommended. The mailing address is 
Petroleum Division, EI-42, Forrestal Building, U.S. Department of 
Energy, 1000 Independence Ave., SW., Washington, DC 20585. 
Alternatively, Stefanie Palumbo may be contacted by telephone at (202) 
586-6866.

FOR FURTHER INFORMATION CONTACT: Requests for additional information 
about this policy should be directed to Ms. Palumbo at the address 
listed above. Additional information on EIA's petroleum supply program 
is available on EIA's Internet site at http://www.eia.doe.gov/oil_gas/petroleum/info_glance/petroleum.html.

SUPPLEMENTARY INFORMATION:

I. Background
II. Current Actions
III. Request for Comments

I. Background

    The Federal Energy Administration Act of 1974 (Pub. L. No. 93-275, 
15

[[Page 41462]]

U.S.C. 761 et seq.) and the DOE Organization Act (Pub. L. No. 95-91, 42 
U.S.C. 7101 et seq.) require the EIA to carry out a centralized, 
comprehensive, and unified energy information program. This program 
collects, evaluates, assembles, analyzes, and disseminates information 
on energy resource reserves, production, demand, technology, and 
related economic and statistical information. This information is used 
to assess the adequacy of energy resources to meet near and longer term 
domestic demands.
    The EIA provides the public and other Federal agencies with 
opportunities to comment on collections of energy information conducted 
by EIA. As appropriate, EIA also requests comments on important issues 
relevant to EIA dissemination of energy information. Comments received 
help the EIA when preparing information collections and information 
products necessary to EIA's mission.
    The purpose of EIA's Petroleum Supply Reporting System (PSRS) is to 
collect and disseminate basic and detailed data to meet EIA's mandates 
and energy data users' needs for credible, reliable, and timely 
information on U.S. petroleum supply. Adequate understanding of the 
U.S. petroleum industry requires data on production, receipts, inputs, 
movements, and stocks of crude oil, petroleum products, and natural gas 
liquids.
    The PSRS is comprised of 16 surveys (i.e., six weekly surveys, nine 
monthly surveys, and one annual survey). The surveys are:
     EIA-800, Weekly Refinery and Fractionator Report,
     EIA-801, Weekly Bulk Terminal Report,
     EIA-802, Weekly Product Pipeline Report,
     EIA-803, Weekly Crude Oil Stocks Report,
     EIA-804, Weekly Imports Report,
     EIA-805, Weekly Terminal Blenders Report,
     EIA-810, Monthly Refinery Report,
     EIA-811, Monthly Bulk Terminal Report,
     EIA-812, Monthly Product Pipeline Report,
     EIA-813, Monthly Crude Oil Report,
     EIA-814, Monthly Imports Report,
     EIA-815, Monthly Terminal Blenders Report,
     EIA-816, Monthly Natural Gas Liquids Report,
     EIA-817, Monthly Tanker and Barge Movement Report,
     EIA-819, Monthly Oxygenate Report, and
     EIA-820 Annual Refinery Report.
    Both weekly and monthly surveys are administered at five key points 
along the petroleum production and supply path: (1) Refineries, (2) 
bulk terminals, (3) product pipelines, (4) crude oil stock holders, and 
(5) importers of crude oil and products. Data collected weekly using 
weekly Forms EIA-800 through EIA-805 are similar, although less 
detailed and accurate, than data collected monthly using Forms EIA-810 
through EIA-815.
    The data are disseminated in EIA's petroleum supply information 
products--the Weekly Petroleum Status Report (WPSR), This Week in 
Petroleum (TWIP), the Petroleum Supply Monthly (PSM), and the Petroleum 
Supply Annual Volumes 1 and 2 (PSA). Within five days of the close of 
the reference week (excluding holiday weeks), weekly PSRS data are 
disseminated in the WPSR and TWIP to provide timely, relevant snapshots 
of the U.S. petroleum industry. Within two months of the close of a 
reference month, data based on the monthly surveys is disseminated in 
the PSM. About five months after the end of the reference year, final 
monthly data as well as annual data are published in the PSA.
    Accuracy of the survey data is measured as the closeness of the 
disseminated values to the true values (i.e., those values that would 
be obtained if the entire target population had been surveyed and all 
the data had been precisely recorded). To help users of PSRS data, EIA 
addresses data accuracy in two publicly available documents: (1) The 
feature article ``Accuracy of Petroleum Supply Data'' published 
annually in one issue of the PSM, and (2) Table C1, ``Impact of 
Resubmissions on Major Series,'' published in each issue of the PSM.
    The weekly PSRS data are expected to be less accurate than the PSM 
data because the data are collected from a sample of companies rather 
than from all companies. Estimates are made for the nonsampled 
companies. Additionally, companies must frequently estimate data they 
submit weekly, but can base monthly data on accounting records. 
Finally, the WPSR is on a tight time schedule for publication, and the 
weekly surveys have a somewhat lower response rate (but still greater 
than 95%) than the corresponding monthly surveys. Estimates are made 
for companies whose data are not available at time of publication. The 
annual PSA data are most accurate. Companies file resubmissions and EIA 
has time to carefully edit the data and resolve any ambiguities with 
the respondent. EIA has received data from almost 100% of respondents 
by the time the PSA is published.
    While the major weekly petroleum supply data series tend to track 
quite well with corresponding monthly data, certain series demonstrate 
more variation in trend relative to monthly patterns, even though the 
end of month comparisons may track favorably. Imports of crude oil and 
petroleum products and crude oil stocks have historically exhibited the 
most variation from week to week. For example, the graph in Figure 1 
shows crude oil inventories from the end of December 2003 to the end of 
January 2004. Included is a 5-year crude stock trend line that shows 
the expected crude oil stock pattern for this period is a slight build 
in stocks. This graph illustrates that, while the weekly and monthly 
stock numbers for the end of the month did track quite closely, the 
weekly data over most of the month exhibited the opposite behavior. The 
trend for the first three weeks was a declining stock pattern, altered 
only in the last week of the month with a nearly 8 million barrel stock 
increase that ultimately brought it close to what the monthly data 
showed. This also illustrates another advantage of weekly data (in 
addition to timeliness) in that you see detail that you do not see in 
the monthly data. Of course, this also shows that the weekly data can 
vary from week to week in ways that are difficult to predict.

[[Page 41463]]

[GRAPHIC] [TIFF OMITTED] TN09JY04.002

    To help ensure accuracy, a PSRS survey respondent is instructed to 
submit revisions to previously reported data if the respondent 
discovers an error greater than five percent of a previously reported 
value or if EIA requests a resubmission. Revision(s) to survey data may 
be based on a number of factors including:
    (1) More accurate information becomes available to a respondent 
after a survey form is filed and the respondent resubmits corrected 
information.
    (2) After submitting a survey form, a respondent determines that 
information submitted was incorrect (e.g., numbers were transposed, 
numbers were entered in the wrong item on the form, other reporting 
errors) and then resubmits corrected information.
    (3) Based on its review and editing of the data, EIA may identify 
inconsistencies or anomalies in the data and request the respondent to 
recheck the data.
    (4) A survey form is submitted too late for including its data in 
an information product.
    All reported revisions to the data are entered into EIA's PSRS 
database for editing, imputation, and other analytic purposes. In 
nearly all cases the impact of resubmissions would be insignificant to 
the published data. EIA has published a revision to weekly data on 
average only once every 5 years, while revisions to the monthly data 
prior to release of the final PSA data are even less frequent. 
Consistent with the policy outlined in this notice, EIA has 
disseminated revised data only if the revision was expected to 
substantively affect understanding of the U.S. petroleum supply.

II. Current Actions

    EIA is soliciting public comments on the following policy for 
disseminating revisions to PSRS data. This is a formal statement of the 
existing policy for PSRS data that has been in effect for over ten 
years.
    With respect to the weekly PSRS data, EIA will only disseminate 
revised data if the revision is expected to substantively affect 
understanding of the U.S. petroleum supply. Whether to disseminate a 
revision to weekly data will be based on EIA's judgment of the 
revision's expected effect. A revision will be disseminated in the next 
regularly scheduled release of the weekly products. Weekly PSRS data 
have been revised on average only once every five years.
    The monthly PSRS data reflect EIA's official data on petroleum 
supply and are considered to be more accurate than the weekly data 
because they are generally based upon company accounting records 
instead of company estimates and EIA has more time to edit and correct 
anomalous data. With respect to the monthly PSRS data, EIA will only 
disseminate revised data during the year if the revision is expected to 
substantively affect understanding of the U.S. petroleum supply. 
Whether to disseminate a revision during the year will be based on 
EIA's judgment of the revision's expected effect. At the end of year, 
the monthly data are revised to reflect all resubmitted data received 
during the year. These official final monthly petroleum supply data are 
included in the PSA. To assist users in understanding the expected 
effect of revisions to monthly data during the year, EIA publishes a 
separate monthly table, Impact of Resubmissions on Major Series, in 
each release of the PSM. During the last 10 years, EIA has not 
published revised PSM data outside this scheduled policy.
    The PSA reflects EIA's final data on petroleum supply and will only 
be revised if, in EIA's judgment, a revision is expected to 
substantively affect understanding of the U.S. petroleum supply. EIA 
has not revised PSA data during the last 10 years.
    When EIA disseminates any revised PSRS data, it will alert users to 
the affected data value(s) that are revised.

III. Request for Comments

    The public should comment on the actions discussed in item II as 
well as the questions below.

General Issues

    A. Is the proposed policy for disseminating revisions to PSRS data 
appropriate?
    B. What additional actions could EIA take to help ensure and 
maximize the quality, objectivity, utility, and integrity of the PSRS 
data?
    Comments submitted in response to this notice will be considered 
during development of EIA's policy for disseminating revisions to the 
PSRS data. The comments will also become a matter of public record.
    After EIA has completed development of this policy, a Federal 
Register notice will be issued announcing the policy.


[[Page 41464]]


    Statutory Authority:  Section 52 of the Federal Energy 
Administration Act (Pub. L. 93-275, 15 U.S.C. 790a).

    Issued in Washington, DC July 2, 2004.
Jay H. Casselberry,
Agency Clearance Officer, Statistics and Methods Group, Energy 
Information Administration.
[FR Doc. 04-15623 Filed 7-8-04; 8:45 am]
BILLING CODE 6450-01-P