DOE Buys 4.65 MMbbl Crude For Bayou Choctaw SPR Storage Site

The Department of Energy has purchased 4.65 MMbbl of crude for delivery into its Bayou Choctaw, Louisiana, SPR site during October-December from two companies. ExxonMobil will supply 3.9 MMbbl and Macquarie Commodities will deliver 750 Mbbl; The purchase was priced at a total of $357.7 million, or an average $76.92/bbl. Going by this, ExxonMobil will be paid $300 million while Macquarie $58 million. The tender which closed July 10 attracted 42 offers from five companies.