Happy Tuesday! Hope you were able to stay out of the rain this afternoon and enjoy a bit of the cool weather. Let’s get started.
You know we like to keep up with
the happenings at the Department of Energy’s Strategic Petroleum Reserve
(SPR). We have blogged on several of
their strategic releases this year and their respective parties whose exchange
offers were accepted. The SPR
should be 25% ahead once the oil is returned next year. The last couple RFPs
the administration has been a been quiet on whose offers they have accepted,
nonetheless looks like someone is getting an exchange. Let’s
dig in.
Did anyone
happen to read the U.S. Department of Energy’s Hydrocarbon and Geothermal
Energy Office Release on October 23, 2026, their announcement, “Energy
Department Authorizes Strategic Petroleum Reserve Exchange to Support Fuel
Supply Stability”? In the announcement,
it goes on to speak on how the U.S. Department of Energy (DOE) has approved no
more than 400,000 barrels from their emergency exchange program to Phillips 66
Lake Charles Refinery in Louisiana. The
crude will be delivered from the West Hackberry Strategic Petroleum Reserve which
holds sweet and sour crude, and it is located in Louisiana. It is unknown if this is crude oil part of one
of the last two Requests for Proposals (RFP) which closed in October. The reason for the exchange is to help lower and
ease prices for Americans in the region.
Phillips 66 should 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 Authorizes Strategic Petroleum Reserve Exchange to Support Fuel Supply Stability.
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. Keep dry!
**Disclaimer: Please see the Immediate Release from
the U.S. DOE for specifics. **