Press Release - DOE Awards Fifth Strategic Petroleum Reserve Exchange to Bolster Fuel Supply Chain
WASHINGTON, D.C. - Today, the U.S. Department of Energy (DOE) approved a fifth exchange of 400,000 barrels of crude oil for release to Atlantic Trading and Marketing, Inc. from the Strategic Petroleum Reserve (SPR). This release falls under the authorization published in the DOE announcement on November 23, 2021.
Combined, DOE has provided over eight million barrels of SPR crude oil to boost the nation's fuel supply, including four previous exchanges. As with all exchanges, companies that receive SPR crude oil through the exchange agree to return the amount of crude oil received, as well as an additional amount, dependent upon the length of time in which they hold the oil.
The original release is linked here.
Joseph R. Biden, Press Release - DOE Awards Fifth Strategic Petroleum Reserve Exchange to Bolster Fuel Supply Chain Online by Gerhard Peters and John T. Woolley, The American Presidency Project https://www.presidency.ucsb.edu/node/354147