U.S. Buys 3.2 Million Barrels of Oil for Strategic Petroleum Reserve
1/22/2024
(Reuters) — The United States bought 3.2 million barrels of oil for the Strategic Petroleum Reserve, as it continues to slowly replenish the stash after selling a record amount following Russia's invasion of Ukraine in 2022, a Department of Energy document showed on Friday.
The U.S. bought 1.4 million barrels from Exxon Mobil, 600,000 barrels from Macquarie Commodities Trading, and 600,000 barrels from BP Products North America, the document showed. Phillips 66 Co. and Sunoco Partners Marketing & Terminals LP each bought 300,000 barrels.
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Pipeline Project Spotlight
Owner:
East African Crude Oil Pipeline Company
Project:
East African Crude Oil Pipeline (EACOP)
Type:
TotalEnergies in discussions with a Chinese company after Russian supplier Chelpipe was hit by sanctions.
Length:
902 miles (1,443 km)
Capacity:
200,000 b/d
Start:
2022
Completion:
2025
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