Scandoil  

US DoE Announces Contract Awards for Sale of Strategic Petroleum Reserve Crude


Published Mar 13, 2017
US Department of Energy

The US Department of Energy’s (DOE) Office of Fossil Energy has announced contracts have been awarded from the recent sale of Strategic Petroleum Reserve (SPR) crude oil.

A Notice of Sale for a price-competitive sale of up to 10 million barrels of sour crude oil was issued by DOE on February 21, 2017. A total of 17 companies responded to the Notice of Sale, submitting 129 bids for evaluation, with contracts awarded to the following companies:

  • Atlantic Trading and Marketing, Inc.
  • BP Oil Supply
  • Marathon Petroleum Company
  • PetroChina International (America), Inc.
  • Phillips 66
  • Shell Trading (U.S.) Company
  • Valero Marketing and Supply Company

The awarded contracts represent a total sale of 10 million barrels of crude oil. Of this amount, 3 million barrels will be sold from the SPR’s Bryan Mound site, 2.1 million barrels from the Big Hill site, and 4.9 million barrels from the West Hackberry site. Deliveries will be scheduled to take place in May and June, with early deliveries in April accommodated to the maximum extent possible.

Under Section 5010 of the 21st Century Cures Act (Public Law 114-255), signed on December 13, 2016, the Secretary of Energy is directed to drawdown and sell 25 million barrels of SPR crude oil over three consecutive years, commencing with 10 million barrels this fiscal year.

Tags: U.S. Department of Energy (DOE)




Advertisment:

Add a Comment to this Article

Please be civil. Job and promotion will not be added into the comment page.

(Use Markdown for formatting.)

This question helps prevent spam:

+ Larger Font | + Smaller Font
Top Stories

 

 

 

 


 


RSS

RSS
Newsletter
Newsletter
Mobile News
Mobile news

Computer
Our news on
your website


Facebook
Facebook
Twitter
Twitter

Contact
Contact
Tips
Do you have any
tips to us
Stats

 

sitemap xml