Contracts Awarded for Crude Oil Sales From the Strategic Petroleum Reserve
WASHINGTON — The U.S. Department of Energy has awarded a total of 13 contracts for the purchase of crude oil from the Strategic Petroleum Reserve.
The contract awards are part of President Biden’s announcement on March 31, 2022, to release as much as 180 million barrels of crude oil to address the significant global supply disruption caused by Putin’s war on Ukraine and aid in lowering energy costs for American families.
In all, some 91 bids were submitted for oil from two Strategic Petroleum Reserve sites — West Hackberry, Louisiana, and Big Hill, Texas.
The winning bids were submitted by:
Atlantic Trading & Marketing, Inc.
Equinor Marketing & Trading
Macquarie Commodities Trading US LLC
Marathon Petroleum Supply and Trading LLC
Motiva Enterprises LLC
Phillips 66 Company
Shell Trading (US) Company
Valero Marketing and Supply Company
Crude oil deliveries will take place from the West Hackberry and the Big Hill storage sites between Nov. 1 and Nov. 30.
In addition to the 10.15 million barrels of crude oil awarded for November delivery, 155 million barrels have already been delivered as a result of the administration’s previous releases from the Strategic Petroleum Reserve.
The SPR is the world’s largest supply of emergency crude oil, and the federally owned oil stocks stored in underground salt caverns at four storage sites in Texas and Louisiana.
Dan can be reached at [email protected] and at https://twitter.com/DanMcCue.
We're proud to make our journalism accessible to everyone, but producing high-quality journalism comes at a cost. That's why we need your help. By making a contribution today, you'll be supporting TWN and ensuring that we can keep providing our journalism for free to the public.
Donate now and help us continue to publish TWN’s distinctive journalism. Thank you for your support!
