Happy Wednesday!
You know we like to keep up with
the happenings at the Department of Energy’s The Strategic Petroleum Reserve (SPR). We
haven’t heard much from them since the fourth round for the Emergency Exchange
Program back in early May and at the time of the last awards for the program
they hadn’t depleted the promise to release 172 million barrels of oil. Well, looks like another round has been
opened to help them keep their promise. Let’s
dig in.
Did anyone
happen to read the U.S. Department of Energy’s Hydrocarbon and Geothermal
Energy Office Release on June 10, 2026, their announcement, “Energy
Department Issues RFP to Advance President Trump’s 172-Million-Barrel Strategic
Petroleum Reserve Exchange”? In the announcement,
it goes on to speak on how the U.S. Department of Energy (DOE) recently (June
10th) published a notice for Request for Proposal (RFP) from the Emergency
Exchange Program for approximately 40 million barrels of crude oil from either Big
Hill or Bryan Mound SPR sites. This is
the fifth RFP for exchange of crude from the DOE in recent months, and it is
part of a promise the U.S. made to make 172-million barrels available over the
past few months to ease the strain caused by the US-Iran War and the revolving
door the Strait of Hormuz has been placed in.
Currently, 133 million barrels have been released from the SPR
sites. The SPR is
accepting Proposals until Monday, June 15, 2026; see News Release for specifics
date and times. The party’s whose
proposal is accepted have a year to return the barrels with additional oil and
currently the SPR is expecting 26% more back from previous deals. 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 Issues RFP to Advance President Trump’s 172-Million-Barrel Strategic Petroleum Reserve Exchange | Department of Energy.
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. **