Department of Energy officials lead reporters on a tour of the Strategic Petroleum Reserve in Freeport, Texas, United States, June 9, 2016. REUTERS / Richard Carson
WASHINGTON, Sept. 13 (Reuters) – The U.S. Department of Energy has awarded contracts to eight companies for crude oil in a previously announced sale of strategic oil reserves of up to 20 million barrels, the report said. department.
The contracts went to Atlantic Trading & Marketing Inc; Chevron USA (CVX.N); Oil company ExxonMobil (XOM.N); Marathon Petroleum Supply and Trading (MPC.N); Motiva Entreprises (MOTIV.UL); Phillips 66 Co (PSX.N); Unipec America Inc; and Valero Marketing and Supply Co (VLO.N), the department said in a Sept. 10 statement posted online Monday.
The department announced the tender on August 23 to comply with recent legislation requiring the sale of the country’s emergency oil reserve. Oil deliveries are expected from October 1 to December 15.
The sale comes as oil prices are at a week-long high amid supply concerns from the United States over damage from Storm Ida and the continued impact of COVID-19. Read more
Reporting by Susan Heavey; Editing by Toby Chopra and Louise Heavens
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