DOE Awards Exchange Contracts for Over 40 Million Barrels From the Strategic Petroleum Reserve, Completing the 172-Million-Barrel Release
The U.S. Department of Energy (DOE) announced in Washington on October 29 that it has awarded contracts for an exchange of more than 40 million barrels of crude oil from the Strategic Petroleum Reserve (SPR), including volumes offered through previous solicitations. DOE said the awards are part of its execution of President Trump's 172-million-barrel release, which contributes to a coordinated 400-million-barrel action by International Energy Agency (IEA) member nations' strategic reserves.
DOE Under Secretary Kyle Haustveit said: "DOE's latest awards of more than 40 million barrels complete our commitment to release 172 million barrels from the Strategic Petroleum Reserve. Under President Trump's leadership, we have secured the return of more than 216 million barrels to the Reserve beginning early next year—including 44 million additional premium barrels—with a value of more than $4 billion, at no additional cost to hardworking American taxpayers. By securing the return of more than we released, we are strengthening America's energy security and ensuring the Strategic Petroleum Reserve remains ready for the future."
Under the exchange structure, borrowing companies return the crude later together with premium barrels, so the total returned exceeds the total released. DOE said crude oil under the awarded contracts will be supplied from the SPR's Big Hill and Bryan Mound storage sites, and that DOE will coordinate with awardees, pipelines, terminals, and refining partners to support the safe and efficient movement of crude oil.
DOE said the awards reinforce the administration's commitment to energy security, long-term SPR readiness, and responsible stewardship of this critical national energy security asset. The SPR is the United States' emergency crude stockpile for supply disruptions; with these awards, the full 172-million-barrel release commitment has now been carried out.
Source: GSM · USA (original Chinese edition)
Photo: 图：位于 Washington 的美国能源部总部 Forrestal 大楼。GSM联邦机构固定图库照片，摄影 Tim Evanson，CC BY-SA 2.0，来源 Wikimedia Commons。 / Photo: U.S. Department of Energy headquarters, the Forrestal Building in Washington. GSM federal agency library photo by Tim Evanson, CC BY-SA 2.0, via Wikimedia Commons.
