By OGJ editors
HOUSTON, Aug. 22 -- The US Minerals Management Service has sold more than 8.5 million bbl of royalty in-kind (RIK) oil to seven companies as part of an unrestricted sale.
The companies that submitted winning bids include Chevron Products Co., Shell Trading Co., ExxonMobil Corp., Plains Marketing LP, Marathon Petroleum Co., Citadel Energy Products LLC, and ConocoPhillips.
The contracts are for 6-month terms with delivery scheduled to begin Oct. 1.
Representing about 47,000 b/d, the RIK crude sold in this sale will convert to more than 350 million gal of petroleum products, MMS said.
