Happy Monday! Welcome back to another week of ESC News Blog! We hope you have had a fun and relaxing weekend. Let’s get started.
You know we like to keep up with
the happenings at the Department of Energy’s SPR. Well, here is something we rarely hear from
the SPR. They published who they released
sweet and sour crude oil to in an exchange program to help with the rising price
of oil caused by the Middle East Conflict.
Here are some of the details.
Did anyone
happen to read the U.S. Department of Energy’s Hydrocarbon and Geothermal
Energy Office Release on March 20, 2026, their announcement, “ENERGY
DEPARTMENT BEGINS DELIVERING SPR BARRELS AT RECORD SPEEDS”? In the announcement, it goes on to speak on
how the U.S. Department of Energy (DOE) last week published ten companies who have been granted some of the initial 172 million barrels of oil from the Strategic Petroleum Reserve (SPR) and its Emergency Exchange Program. The SPR announced less than 10 days ago their offer to release oil, and on Friday, March 20, the SPR released 45.2 million
barrels which is the beginning of the releases from the Emergency Exchange
program. In this initial exchange, the
SPR will receive back 55 million barrels.
The oil was released from three SPR locations; 10 million from Bayou Choctaw,
over 15 million from Bryan Mound and over 19 million barrels from West Hackberry.
A
few of the companies awarded contracts were BP Products North America (5-millon
barrels), Gunvor USA LLC (over 3 million barrels), Shell Trading (US) Company (over
16 million barrels), Marathon Petroleum Company LP (over 7 million barrels), as
well as others. 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 Begins Delivering SPR Barrels at Record Speeds | Department ofEnergy.
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 Announcement from
the U.S. DOE for specifics. **