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DOE Issues Second Tender to Buy 3mbbl Crude for SPR in Jan

OIL

The US DOE is looking to buy 3mbbl of sour crude oil for the Strategic Petroleum Reserve for delivery in January into the Big Hill SPR site.

  • The bids for the second January tender are due by 20 November.
  • Last month the DOE hoped to buy 6mbbls for Dec & Jan delivery with plans to buy crude to continue to refill the SPR at 79$/bbl or below out to at least May 2024.
  • "This is the second solicitation for January 2024 delivery as DOE aims to purchase oil when it can purchase at a good deal for taxpayers," said a DOE statement.

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