Chevron, Exxon, Valero, others win bids for U.S. SPR oil- Energy Dept

Strategic Petroleum Reserve sale of up to 20mln barrels announced last month

  
Image used for illustrative purpose. A maze of crude oil pipes and valves is pictured during a tour by the Department of Energy at the Strategic Petroleum Reserve in Freeport, Texas, U.S. June 9, 2016.

Image used for illustrative purpose. A maze of crude oil pipes and valves is pictured during a tour by the Department of Energy at the Strategic Petroleum Reserve in Freeport, Texas, U.S. June 9, 2016.

REUTERS/Richard Carson

WASHINGTON- U.S. Department of Energy has awarded contracts to eight companies for crude oil from a previously announced Strategic Petroleum Reserve sale of up to 20 million barrels, the department said.

Contracts went to Atlantic Trading & Marketing Inc; Chevron USA; ExxonMobil Oil Corpn; Marathon Petroleum Supply and Trading ; Motiva Enterprises; Phillips 66 Co; Unipec America Inc; and Valero Marketing and Supply Co, the department said in statement dated Sept. 10 that appeared online on Monday.

The department had announced the call for bids Aug. 23 to comply with recent legislation mandating the sale from the nation's emergency oil reserve. Deliveries of the oil are expected from Oct. 1 to Dec. 15.

The sale comes as oil prices are at a one-week high amid U.S. supply concerns over storm damage from Hurricane Ida and the ongoing impact from COVID-19. 

(Reporting by Susan Heavey; Editing by Toby Chopra and Louise Heavens) ((sheavey@thomsonreuters.com; +1-202-898-8300;))


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