Department of Energy Issues Request for Proposal for a Strategic Petroleum Reserve crude exchange

… <div class="paragraph paragraph--type--text-field paragraph--view-mode--default"> <div class="paragraph__column"> <div class="field field--text_default field--field_text field field--name-field-text field--type-text-long field--label-hidden field__item"><p><strong>WASHINGTON—</strong>The U.S. Department of Energy (DOE) today&nbsp;<a href="https://www.spr.doe.gov/doeec/ActiveDocs.htm?type=exchange">issued</a> a Request for Proposal (RFP) for an exchange of up to 40 million barrels of crude oil from the Strategic Petroleum Reserve (SPR),&nbsp;continuing&nbsp;DOE’s execution of the 172-million-barrel release previously announced by President Trump&nbsp;&nbsp;in coordination with the International Energy Agency (IEA) member nations’ overall 400-million-barrel commitment.</p><p>“With today’s actions,&nbsp;the United States continues to lead the coordinated efforts to stabilize oil markets for the benefit of Americans and people around the world,” <strong>U.S. Secretary of Energy Chris Wright</strong> said. “While the United States and Japan are delivering on their&nbsp;commitments, several European member countries have released only a fraction of the crude oil and petroleum products they pledged. We urge every member&nbsp;country to fulfill its commitments. Thanks to President Trump, these exchanges will also ensure America’s Strategic Petroleum Reserve continues to be refilled, while saving taxpayers more than $3 billion.”</p><p>Thanks to President Trump, DOE has advanced a series of large-scale SPR exchange solicitations at record speed. These actions have moved critical crude oil supplies into the market to address short-term supply disruptions and bolster energy security for the United States and its allies.</p><p>The crude oil will originate from the SPR's <a href="/hgeo/opr/spr-storage-sites" data-entity-type="node" data-entity-uuid="d1b9ddf8-e07f-4a84-9cb1-df4fd851ee43" data-entity-substitution="canonical" title="SPR Storage Sites" aria-label="SPR Storage Sites">Big Hill and Bryan Mound sites</a>. This action builds on the Department’s five&nbsp;previous&nbsp;solicitations that collectively awarded more than 133 million barrels across four completed exchanges.&nbsp;DOE’s earlier exchanges&nbsp;demonstrated&nbsp;the SPR’s ability to rapidly deliver crude under emergency authorities while achieving a 25 percent premium in returned barrels—expanding the reserve and saving taxpayers billions of dollars. Deliveries under awarded exchanges are scheduled for November and December 2026.</p><p>Under DOE’s exchange authority, participating companies will return the 40 million borrowed barrels with&nbsp;additional premium barrels, ensuring immediate market supply while increasing the SPR’s long-term inventory&nbsp;at no cost to taxpayers.</p><p>Bids for this&nbsp;<a href="https://www.spr.doe.gov/doeec/ActiveDocs.htm?type=exchange">solicitation</a>&nbsp;are due no later than 11:00 A.M. Central Time on Tuesday, October 6, 2026.</p><p>For more information on the SPR, please visit <a href="/hgeo/opr/strategic-petroleum-reserve" data-entity-type="node" data-entity-uuid="eb109a4f-2829-4d70-a24c-d9ec2e4f5c16" data-entity-substitution="canonical" title="Strategic Petroleum Reserve" aria-label="Strategic Petroleum Reserve">DOE’s website</a>.</p></div> …