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The Biden administration on Wednesday awarded contracts to buy 2.8 million barrels of oil for the government’s emergency reserve for more than $81 a barrel, $2 above the target purchase price. The Department of Energy (DOE) said it will spent $225.6 million to buy oil to refill the Strategic Petroleum Reserve (SPR) from Atlantic Trading …
U.S. to Buy Oil for SPR Oil at Above $79 Target Price in Latest Round Read More »
March 26 (Reuters) – Enbridge will form a venture with WhiteWater/I Squared Capital and MPLX to operate natural gas pipeline and storage assets connecting Permian Basin supplies to the growing LNG and U.S. Gulf Coast demand, the Canadian pipeline operator said on Tuesday.
U.S. oil stocks in the Strategic Petroleum Reserve (SPR) at year-end will be at or exceeding the level that would have existed prior to massive sales two years ago, U.S. Energy Secretary Jennifer Granholm said on Monday. Stocks will reach those levels in part on the cancellation of congressional-mandated sales of about 140 million barrels, …
U.S. to Return Emergency Oil Reserve to Prior Levels by Year-End Read More »
US seeks oil for emergency reserve as maintenance winds down (Reuters) – The U.S. is seeking to buy 3 million barrels of oil for the Strategic Petroleum Reserve (SPR), as one storage site winds down maintenance that had tempered the pace of replenishing the stockpile, the U.S. Energy Department said on Thursday. The oil, if …
U.S. Seeks Oil for Emergency Reserve as Maintenance Winds Down Read More »
The U.S. is seeking to buy about 3 million barrels of oil for the Strategic Petroleum Reserve for delivery in September, the Energy Department said on Wednesday, as it slowly replenishes the emergency stash after selling a record amount in 2022. President Joe Biden in 2022 ordered a sale of about 180 million barrels from …
U.S. Seeks 3 Million Barrels of Oil for Emergency Reserve in September Read More »
U.S. crude oil stockpiles last week rose less than expected as refining rates picked up sharply, data from Energy Information Administration (EIA) showed on Wednesday. Crude inventories rose for a sixth week in a row, building by 1.4 million barrels to 448.5 million barrels in the week ended March 1, the EIA said. Analysts had …
U.S. Crude Stocks Rise More than Forecast as Refining Ramps Up – EIA Read More »
(Reuters) – A measure in the U.S. funding legislation unveiled by congressional leaders on Sunday would block China from buying oil from the Strategic Petroleum Reserve. The desire for a hard line on China is one of the few truly bipartisan sentiments in the deeply divided U.S. Congress, and lawmakers have introduced dozens of bills …
U.S. Funding Bill Blocks China From Buying Oil From Strategic Petroleum Reserve Read More »
U.S. crude oil stockpiles rose while gasoline and distillate inventories fell last week, the Energy Information Administration said on Thursday. Crude inventories rose by 3.5 million barrels to 442.9 million barrels in the week ending Feb. 16, the EIA said, compared with analysts’ expectations in a Reuters poll for a 3.9 million-barrel rise. Crude stocks …
U.S. Crude Stockpiles Rise, Gasoline and Distillate Draw Down – EIA Read More »
The Biden administration has awarded Strategic Petroleum Reserve (SPR) contracts for 2.95 million barrels of oil worth about $229.5 million to four companies, the U.S. Energy Department said on Thursday. The U.S.-produced crude oil is being purchased for an average price of $77.81 per barrel, lower than the average of about $95 per barrel that …
U.S. Awards SPR Contracts Worth $229.5 Million to ExxonMobil, BP, Others Read More »
U.S. crude oil stockpiles rose last week while gasoline and distillate inventories fell as refinery runs dropped to their lowest since December 2022, the Energy Information Administration said on Wednesday. Crude inventories rose by 12.0 million barrels to 439.5 million barrels in the week to Feb. 9, the EIA said, far exceeding analysts’ expectations in …
U.S. Crude Stockpiles Rise, Products Draw Down as Refining Drops – EIA Read More »
