Happy Monday! Welcome back to another week of ESC News Blog! We hope you had a relaxing weekend, and you spoiled Mom on her special day. Let’s get started.
You know we like to keep up with
the happenings at the Department of Energy’s Strategic Petroleum Reserve, and they have awarded companies for their fourth
round of RPFs. Let’s dig in.
Did anyone
happen to read the U.S. Department of Energy’s Hydrocarbon and Geothermal
Energy Office Release on May 11, 2026, their announcement, “Energy
Department Awards Contracts From The Strategic Petroleum Reserve, Advancing
President Trump’s Historic Emergency Exchange”?
In the announcement, it goes on to speak on how the U.S. Department of
Energy (DOE) recently (May 11th) published they have selected the companies
which will be part of the fourth round of the Emergency Exchange Program for approximately
53-million barrels of crude oil from one of the four SPR sites: Bayou
Choctaw, West Hackberry, Big Hill, or Bryan Mound. This was part of the fourth RFP for exchange
of crude the DOE has published in recent weeks, nonetheless this exchange was
less then what the DOE had available which was approximately 92-million barrels.
The parties have a year to return the
barrels with additional oil, and according to the DOE they will be receiving over
25% return which is around 15-million barrels.
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 Awards Contracts from the Strategic Petroleum Reserve, Advancing President Trump’s Historic Emergency Exchange.
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. **