Additional contracts have been awarded to nine companies in the U.S. Department of Energy’s sales of crude oil from the nation’s strategic petroleum reserve. The latest contracts were awarded to Valero (11.65 million barrels), Marathon (8.51 million barrels), ExxonMobil (5.15 million barrels), Phillips 66 (1.3 million barrels), Chevron (900,000 barrels), Shell (700,000 barrels) and others. DOE also announced the next in this series of sales of 45 million barrels with bids due by June 28 for delivery Aug. 16 to Sept. 30.
The sales are part of the Biden’s administration response to the disruption of global supply caused by Russia’s invasion of Ukraine. The May to July sales are being conducted with crude oil from several SPR sites, including Bryan Mound (up to 8.25 million barrels) and Big Hill (up to 15.5 million barrels) in Texas.