DOE announces congressionally mandated sale of SPR crude

The US Department of Energy plans to sell crude oil from three of the four sites in the Strategic Petroleum Reserve in 2020 and 2021 to meet requirements under Section 403 of the 2015 Bipartisan Budget Act and the 2018 Consolidated Appropriations Act.

The US Department of Energy plans to sell crude oil from the Strategic Petroleum Reserve, DOE’s Fossil Energy Office reported. DOE will sell crude from three of the four SPR sites—Bryan Mound and Big Hill in Texas, and West Hackberry in Louisiana—in 2020 and 2021 to meet requirements under Section 403 of the 2015 Bipartisan Budget Act and the 2018 Consolidated Appropriations Act, it said on Aug. 21.

DOE will offer as much as 10 million bbl from Bryan Mound, and up to 5 million bbl each from Big Hill and West Hackberry, it said. DOE must receive bids no later than 2 p.m. CDT on Aug. 27 and will offer contracts to successful bidders no later than Sept. 5. Deliveries will take place in October and November, it said.

Any company registered in the SPR’s Crude Oil Sales Offer Program (COSOP) is eligible to participate in SPR crude oil sales, DOE said. Other interested parties can register through the COSOP at SPR’s web site.

Contact Nick Snow at nicks@endeavorb2b.com.

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