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DOE Announces Notice of Sale of Crude Oil from the Strategic Petroleum Reserve

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Washington, D.C. – The U.S. Department of Energy’s (DOE) Office of Fossil Energy announced today a Notice of Sale of crude oil from the Strategic Petroleum Reserve (SPR).

DOE intends to draw down and sell 10.1 million barrels of crude oil from the SPR.  This notice of sale is to fulfill the requirements of Section 403(a)(4) of the Bipartisan Budget Act of 2015 (5 million barrels) and the Consolidated Appropriations Act of 2018 (5.1 million barrels), which combined require a mandatory sale of 10.1 million barrels during FY 2021. The proceeds of the sale will be deposited in the U.S. Treasury by the end of the Fiscal Year.

The Notice of Sale announced today includes a price-competitive sale of up to 10.1 million barrels of SPR crude. The sale will be conducted with crude oil from the following three SPR sites (maximum amount from each site listed):

Up to 5 million barrels from Bryan Mound Up to 5 million barrels from Big Hill Up to 5 million barrels from West Hackberry

DOE must receive bids no later than 9:00 a.m. Central Time on Wednesday, February 24, 2021.

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