Happy Tuesday! Hope you were able to stay out of the rain this afternoon. Let’s get started.
You know we like to keep up with
the happenings at the Department of Energy’s Strategic Petroleum Reserve
(SPR). We have blogged on several of
their strategic releases this year and their respective parties whose exchange
offers were accepted. The SPR
should be 25% ahead once the oil is returned next year. Well, they are
requesting offers again. Let’s
dig in.
Did anyone
happen to read the U.S. Department of Energy’s Hydrocarbon and Geothermal
Energy Office Release on September 19, 2026, their announcement, “The
United States Energy Department Continues Execution of Strategic Reserve
Release Commitments”? In the announcement,
it goes on to speak on how the U.S. Department of Energy (DOE) recently published
a notice for Request for Proposal (RFP) from the Emergency Exchange Program for
approximately 40 million barrels of crude oil from the SPR at either Big
Hill or Bryan Mound to be delivered in either November or December. This is the sixth RFP for exchange of crude
the DOE has published in recent months, and as promised the U.S. has made
available more than 133 million barrels 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. In addition, the
previous five RFPs combined have saved Americans $3 billion in refilling costs
for the SPR. The Strategic Petroleum Reserve (SPR) is accepting Proposals until Tuesday, October 6, 2026; see News Release for specifics date and
times. The parties whose proposal is
accepted have a year to return the barrels with additional oil. 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: The United States Energy Department Continues Execution of Strategic ReserveRelease Commitments | 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. **