US Looks to Buy Up to 3 Million Barrels for Oil Reserve for January Delivery
11/7/2023
(Reuters) — The United States is seeking to buy up to three million barrels of oil for delivery in January 2024 to replenish the country's strategic petroleum reserve, the Department of Energy said on Monday.
RELATED: U.S. Hopes to Buy 6 Million Barrels for Oil Reserve by January
"This is the second solicitation for January 2024 delivery as DOE aims to purchase oil when it can purchase at a good deal for taxpayers," it said in a statement. Last month the administration said it hoped to buy 6 million barrels of crude oil for delivery in December and January.
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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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