DOE Authorizes Second Exxon Strategic Petroleum Reserve Exchange

Source: 9/9/2021, Location: North America

The Department of Energy authorized the Strategic Petroleum Reserve (SPR) to conduct a second exchange with ExxonMobil Baton Rouge for an additional 1,500,000 barrels of crude oil.?With the release of an initial 1,500,000 barrels to ExxonMobil and 300,000 barrels to Placid Refining, the SPR released a total of 3,300,000 barrels in response to Hurricane Ida.?The SPR’s ability to conduct exchanges is a critical tool available to refiners to strengthen the fuel supply chain and mitigate disruptions following emergencies, like Hurricane Ida.

Additional information about SPR exchanges can be found here. For the latest information on DOE’s response efforts related to Hurricane Ida, please visit our Hurricane Response Hub.

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