U.S. DOE: Final Distribution From U.S. Strategic Petroleum Reserve Set For December
The U.S. Department of Energy announced the latest round of contract awards for the purchase of crude oil from the Strategic Petroleum Reserve.
The contracts complete the Biden Administration’s announcement on March 31, 2022, to release 180 million barrels of crude oil to address global supply disruption caused by the war in Ukraine.
A total of twelve (12) companies responded to the notice, submitting 110 bids. The DOE plans to sell crude oil from three of the four SPR storage sites – West Hackberry, Big Hill and Bryan Mound.