News & Alerts
March 19, 2020 U.S. DEPARTMENT OF ENERGY ANNOUNCES RFP FOR PURCHASE OF DOMESTIC CRUDE OIL FOR STRATEGIC PETROLEUM RESERVE
The U.S. Department of Energy has released a confidential Request for Proposal (RFP) to authorize the initial purchase of 30 million barrels of crude oil from small to midsize U.S. oil producers, with a total purchase target of 77 million domestic barrels. The purchase will be used to fill the Strategic Petroleum Reserve and is intended to bolster U.S. oil and gas companies in the wake of COVID-19 and distressed global oil markets. Delivery is projected for May and June, although early April deliveries are encouraged.
The DOE announcement is available at:
Please contact our office if you need further guidance on the RFP terms and conditions.