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. Well, looks like
the Request for Proposal (RFP) which closed earlier in October has been
awarded. Let’s dig in.
Did anyone
happen to read the U.S. Department of Energy’s Hydrocarbon and Geothermal
Energy Office Release on October 29, 2026, their announcement, “Energy
Department Awards Contracts From The Strategic Petroleum Reserve As Part Of
President Trump’s Emergency Exchange”? In
the announcement, it goes on to speak on how the U.S. Department of Energy
(DOE) recently published awardees for their Request for Proposal (RFP) from the
Emergency Exchange Program for crude oil which closed earlier in October, and
the current group have been awarded contracts for over 16-million barrels. The SPR site the oil will be released
from is either Big Hill or Bryan Mound and delivery will be arranged at a
future date. Some of the awardees are Gunvor USA, Macquarie
Commodities Trading US, Phillips 66 Company, Trafigura Trading LLC and Vitol,
Inc. There were contracts awarded
earlier in October for over 23-million barrels, and some of the companies
include ExxonMobil Oil Corporation, and Energy Transfer Crude Marketing. The two award groups have exhausted the RFP
from earlier in October and the DOE has honored their word of releasing
172-million barrels of crude oil since the inception of the US-Iran War. 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 as Part ofPresident Trump’s Emergency Exchange.
If you would
like to see the companies who were awarded the contracts; see FY27 SPR Oil Release No. 1 Award Information and FY26 SPR Oil Release No. 4 Award Information.
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. Keep dry!
**Disclaimer: Please see the Immediate Release from
the U.S. DOE for specifics. **