PART 626 — PROCEDURES FOR ACQUISITION OF PETROLEUM FOR THE STRATEGICPETROLEUM RESERVE [ 10 CFR 626 ]PART626 — PROCEDURES FOR ACQUISITION OF PETROLEUM FOR THESTRATEGIC PETROLEUM RESERVE [ 10 CFR 626 ]Table of Contents§ 626.1 — Purpose.§ 626.2 — Definitions.§ 626.3 — Applicability.§ 626.4 — General acquisition strategy.§ 626.5 — Acquisition procedures—general.§ 626.6 — Acquiring oil by direct purchase.§ 626.7 — Royalty transfer and exchange.§ 626.8 — Deferrals of contractuallyscheduled deliveries.Authority: 42U.S.C. 6240(c); 42U.S.C. 7101, et seq.Source: 71FR 65380, Nov. 8, 2006, unless otherwise noted.§ 626.1 Purpose.This part establishes the procedures for acquiringpetroleum for, and deferring contractually scheduled deliveries to, theStrategic Petroleum Reserve. The procedures do not represent actual terms andconditions to be contained in the contracts for the acquisition of SPRpetroleum. § 626.2 Definitions.Backwardationmeansa...