Happy Thursday!
You know we like to keep up with
the happenings at the Department of Energy’s SPR. Let’s dig in.
Did anyone
happen to read the U.S. Department of Energy’s Hydrocarbon and Geothermal
Energy Office Release on April 30, 2026, their announcement, “Energy
Department Issues RFP to Continue Swift Execution of President Trump’s
172-Million-Barrel Strategic Petroleum Reserve Exchange”? In the announcement, it goes on to speak on
how the U.S. Department of Energy (DOE) recently (April 30th) published a
notice for Request for Proposal (RFP) from the Emergency Exchange Program for
approximately 92 million barrels of crude oil from one of the four SPR
sites: Bayou Choctaw, West Hackberry, Big Hill, or Bryan Mound. This is the fourth RFP for exchange of crude
the DOE has published in recent weeks, and as promised the U.S. have made
available 172-million barrels over the past few weeks to ease the strain caused
by the US-Iran War and the revolving door the Strait of Hormuz has been placed
in. The Strategic Petroleum Reserve (SPR) is accepting Proposals until Monday, May 4,
2026; see News Release for specifics date and times. The parties whose proposal is accepted have a
year to return the barrels with additional oil.
We will keep you posted on anything interesting we hear out of the DOE
and the SPR. If you would like to
read more of the Announcement from the U.S. DOE’s Hydrocarbons and
Geothermal Energy Office, please click the link: Energy Department Issues RFP to Continue Swift Execution of President Trump’s172-Million-Barrel Strategic Petroleum Reserve Exchange.
Another little
tidbit: according to EIA during the time period March 20 and April 24, 2026,
the DOE has drawn down the SPR by approximately 17-million barrels. The EIA has the SPR holding a bit under 398
million barrels. Please check link for details: DOE has released17.5 million barrels from the Strategic Petroleum Reserve since March - U.S.Energy Information Administration (EIA).
If you would
like help in looking into how to store your liquid hydrocarbon safely in
underground storage or just find out what is underneath your feet to help with
your emission reduction goals, contact us via email in the Blog and check out
our ESC website!
We hope you have a wonderful evening and a productive week.
**Disclaimer: Please see the Immediate Release from
the U.S. DOE for specifics. **