NewsCovering Louisiana


Crude oil to be sold from Strategic Petroleum Reserve

Posted at 12:02 PM, Aug 22, 2019
and last updated 2019-08-22 13:02:05-04

NEW ORLEANS (AP) - Federal regulators plan to draw down and sell crude oil from Strategic Petroleum Reserve sites in Texas and Louisiana.

The U.S. Department of Energy's Office of Fossil Energy on Wednesday announced a Notice of Sale from sites in Bryan Mound and Big Hill, Texas, and West Hackberry, Louisiana.

Department officials say the Bipartisan Budget Act of 2015 directs the energy secretary to sell 5 million barrels in fiscal year 2020. Last year's Consolidated Appropriations Act directs the secretary to sell 10 million barrels in 2020 and 2021.

Up to 10 million barrels will be sold from Bryan Mound and up to 5 million from Big Hill and West Hackberry.

Bids are due Aug. 27. Companies registered in the SPR's Crude Oil Sales Offer Program are eligible. Others can register online .