Happy Thursday! We hope you are enjoying the Spring weather!
At this point,
you know how we enjoy writing follow-ups or updates for our Blog! We wrote about the Strategic Petroleum Reserve (SPR) several times
last year for having either purchased or returned to them crude oil to fill
this American asset. According to their
website as of March 28, 2025, they have 396.4 million barrels of oil in this crucial
asset. Well, the U.S. DOE Petroleum Reserve’s Office was fairly quiet at the end of last year
nonetheless today they announced something!
Did anyone happen to read the DOE’s CESER Updates Newsletter for the Strategic Petroleum Reserve on April 3, 2025, their update included, “Department of Energy Awards Management and Operating (M&O) Contract for the Strategic Petroleum Reserve”? In the DOE’s updates, the Office of Strategic Petroleum Reserve (SPR) has announced their will be a change coming this, Summer. The SPR has picked a new company to run and maintain these important facilities and distribution systems, and the new company is Strategic Storage Partners, LLC. They were awarded the $1.4 billion contract to run the SPR system in the Gulf states for approximately the next five-years starting in June with a possibility to add another five years. We wish them luck in their transition for maintaining and running the SPR in Texas and Louisiana! We will keep you informed on anything further we hear from the SPR. If you would like to read more of the announcement from the DOE’s Office of Strategic Petroleum Reserves, please click the link: Department of Energy Awards Management and Operating (M&O) Contract for the Strategic Petroleum Reserve.
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 website!
We hope you have a wonderful evening!
**Disclaimer: Please see the update from CESER for
specifics. **