The U.S. Department of Energy (DOE) is looking to begin refilling its Bryan Mound oil reserve in Texas after the completion of upgrades and repairs. The agency has launched two tenders seeking a total of 3.5 MMBbl of crude oil, some for Bryan Mound, for supply in January 2025.
The agency wants to buy 2 MMbbl for Bryan Mound and the rest for its Bayou Choctaw, Louisiana, site. Offers into the Bayou Choctaw tender are due by 11:00am CT on August 13; offers for the Bryan Mound solicitation are due by 11:00 am CT on August 20.
The DOE continues to aim for $79/bbl or less in this round of purchases, significantly lower than the average of ~$95/bbl it got for the 2022 emergency SPR sales.
