Happy Monday and welcome back to another week of ESC News Blog! We hope you had a fun and relaxing weekend!
At this point,
you know how we enjoy writing follow-ups for our Blog, and we did promise to
keep you informed in our last SPR blog! We
wrote about the Strategic Petroleum Reserve (SPR) having
purchased or have had returned to them more than 50 million barrels of oil, and
they have lined up purchasing agreements for another approximately 9 million
barrels to be delivered this fall to Big Hill SPR in Texas and lined up 4.65
million barrels for Bayou Choctaw for delivery by the end of the year.
Did anyone
happen to read the DOE’s CESER Updates Newsletter for the Strategic
Petroleum Reserve on August 23, 2024, their update included, “The New
Purchase of close to 2.5 Million Barrels Showcase the Biden-Harris
Administration’s Continued Commitment to Replenish the SPR at a Good Price,
Maintain the SPR’s Operational Readiness, and Protect the Nation’s Energy
Security”? In the DOE’s updates, the Office
of Petroleum Reserves had announced the recipient who was given a contract for
the August 6, 2024, Request for Proposal (RFP) issued by them for delivery at Bryan
Mound for the first three months of 2025 of less than a million barrels a month
for a total of approximately 2.475 MMB. There
were 15 offers for the August 6, 2024, RFP and one company’s offer was accepted,
and the company was Macquarie Commodities Trading US LLC. Ever
since the 6 million barrels for Bryan Mound were not attained, on August 26, 2024, the SPR published another RFP to buy another 3.6 MMB of sour
crude called Version 2 for delivery the first three consecutive months of 2025
starting in January. The deadline to
this RFP is September 4, 2024, please see the notice above for exact deadline
time. We will keep you informed on
anything we hear. If you would like to
read more of the announcement from the DOE’s Office of Petroleum Reserves,
please click the link: Biden-Harris Administration Purchases Barrels for the Strategic Petroleum Reserve – Bringing Total Purchased to over 47 Million Barrels at a Good Deal for American Taxpayers | Department of Energy.
If you would
like help in looking into how to transport your liquid petroleum product efficiently,
safely, and with less of a carbon footprint 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'swebsite!
We hope you have a wonderful evening!
**Disclaimer: Please see the update from CESER for
specifics to the solicitations. **