Contracts Awarded for Crude Oil Sales From the Strategic Petroleum Reserve

October 10, 2022 by Dan McCue
Contracts Awarded for Crude Oil Sales From the Strategic Petroleum Reserve
West Hackberry - Strategic Oil Reserve (Energy Department Photo)

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.

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