WATCH TV LIVE

Tags: strategic petroleum reserves | u.s. emergency oil contract | oil and gas

US Emergency Oil Contracts Go to Phillips, Shell, 4 Others

(AP)

Thursday, 03 November 2022 12:06 PM EDT

The U.S. Department of Energy on Thursday said six companies had been awarded contracts for the latest sale of oil from the Strategic Petroleum Reserve.

The contracts were awarded to companies including Phillips 66, Marathon Petroleum Supply and Trading LLC, Shell Trading (US) and Valero Marketing and Supply, the Energy Department said in a statement.

The sale is part of President Joe Biden's previously announced plan to sell 180 million barrels of oil from the reserve. Deliveries will take place in December.

Click Here to comment on this article

Sign up for Newsmax’s Daily Newsletter

Receive breaking news and original analysis - sent right to your inbox.

Yes, Send Me News Alerts via email

(Optional for Local News)

Privacy: We never share your email address.

Join the Newsmax Community

Read and Post Comments
Please review Community Guidelines before posting a comment.

TOP

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.