You are here

Summary of 2011 SPR Sale

On June 23, 2011, U.S. Energy Secretary Steven Chu announced that the U.S. and its partners in the International Energy Agency decided to release a total of 60 million barrels of oil onto the world market over the next 30 days to offset the disruption in the oil supply caused by unrest in the Middle East. As part of this effort, the U.S. planned to release 30 million barrels of oil from the Strategic Petroleum Reserve (SPR).

"We are taking this action in response to the ongoing loss of crude oil due to supply disruptions in Libya and other countries and their impact on the global economic recovery," said Energy Secretary Steven Chu. "As we move forward, we will continue to monitor the situation and stand ready to take additional steps if necessary."

On July 11, 2011, DOE announced award of 28 contracts to 15 companies for the sale of 30,640,000 barrels of sweet crude oil for deliveries during August 2011. Delivery schedules and transportation arrangements are the responsibiliy of the purchasers, and some requests to DOE for early deliveries during July were accommodated. By September 2, 2011, DOE had fulfilled 100% of the sales contracts.

Drawdown Deliveries by SPR Site*
(Reflects nominal scheduled quantities)

 

 

SPR Oil Deliveries Scheduled*

 

Week

Big Hill
(barrels)

West
Hackberry

(barrels)

Bryan Mound
(barrels)

Total

Deliveries
to Date**

Jul 17-23

200,000

2,050,000

2,120,000

4,370,000

4,370,000

Jul 24-31

200,000

1,750,000

2,020,000

3,970,000

3,970,000

Aug 1-7

1,300,000

1,550,000

2,100,000

4,950,000

4,950,000

Aug 8-14

2,605,000

1,520,000

1,925,000

6,050,000

6,050,000

Aug 15-21

700,000

2,490,000

2,050,000

5,240,000

5,240,000

Aug 22-28

500,000

2,060,000

2,000,000

4,560,000

4,560,000

Aug 29-31

-

500,000

1,000,000

1,500,000

1,500,000

TOTAL

5,505,000

11,920,000

13,215,000

30,640,000

30,640,000

*Weekly quantities may change to reflect schedule revisions.

 

Drawdown Deliveries by Company/Contract**
(Reflects nominal scheduled quantities)

 

Purchaser

Contract Number

Contract Quantity
(Barrels)

Deliveries Completed
(Barrels)

Barclays Bank Plc

DE-SC96-11PO97000

200,000

200,000

 

ConocoPhillips

DE-SC96-11PO97001

1,100,000

1,100,000

 

DE-SC96-11PO97002

1,000,000

1,000,000

 

ExxonMobil Oil Corporation

DE-SC96-11PO97003

1,510,000

1,510,000

 

Hess Energy Trading Company

DE-SC96-11PO97004

2,000,000

2,000,000

 

J.P. Morgan Ventures Energy Corporation

DE-SC96-11PO97005

1,500,000

1,500,000

 

Marathon Petroleum Company

DE-SC96-11PO97006

1,000,000

1,000,000

 

DE-SC96-11PO97007

1,000,000

1,000,000

 

Murphy Oil USA, Inc.

DE-SC96-11PO97008

500,000

500,000

 

Plains Marketing LP

DE-SC96-11PO97009

1,040,000

1,040,000

 

DE-SC96-11PO97010

1,040,000

1,040,000

 

Shell Trading (US) Company

DE-SC96-11PO97011

1,000,000

1,000,000

 

DE-SC96-11PO97012

1,000,000

1,000,000

 

DE-SC96-11PO97013

1,000,000

1,000,000

 

DE-SC96-11PO97014

650,000

650,000

 

Sunoco Inc. (R&M)

DE-SC96-11PO97015

700,000

700,000

 

DE-SC96-11PO97016

700,000

700,000

 

Tesoro Refining & Marketing Company

DE-SC96-11PO97017

1,200,000

1,200,000

 

Trafigura AG

DE-SC96-11PO97018

550,000

550,000

 

DE-SC96-11PO97019

550,000

550,000

 

Valero Energy Corp.

DE-SC96-11PO97020

2,150,000

2,150,000

 

DE-SC96-11PO97021

1,950,000

1,950,000

 

DE-SC96-11PO97022

2,000,000

2,000,000

 

DE-SC96-11PO97023

400,000

400,000

 

DE-SC96-11PO97024

400,000

400,000

 

Vitol Inc.

DE-SC96-11PO97025

3,000,000

3,000,000

 

DE-SC96-11PO97026

1,000,000

1,000,000

 

BP Oil Supply

DE-SC96-11PO97027

500,000

500,000

       

TOTAL

 

30,640,000

30,640,000

 

 

** Data current as of September 2, 2011.