UPDATE 1-U.S. Energy Dept. releases "test" oil reserve sales details

Mon Mar 17, 2014 5:07pm EDT

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WASHINGTON, March 17 (Reuters) - Five oil companies
submitted winning bids for the 5 million barrels of crude
offered in the first test sale of the U.S. strategic oil reserve
in more than two decades, the U.S. Department of Energy said on
Monday.
    Phillips 66 bought the most oil from the auction,
which wrapped up on Friday, successfully bidding on 2.04 million
barrels of oil.
    The Obama administration offered up 5 million barrels of
sour crude from the Strategic Petroleum Reserve last week.
Federal officials said the auction was designed to assess the
country's ability to respond to changing energy markets in case
of a disruption in oil supplies. 
    The government-owned emergency stockpile can hold up to 727
million barrels of oil in deep underground storage caverns
created in salt domes under the Texas and Louisiana Gulf Coasts.
    The federal government should earn nearly $500 million
dollars from the sale, based on the winning bids.
    Royal Dutch Shell bought the second largest amount
of oil from the sale, purchasing 1.22 million barrels, followed
by Marathon Petroleum Corp, which bought 1.2 million
barrels.
    Exxon Mobil bought 500,000 barrels of crude in the
sale, while Mercuria Energy Trading bought 40,000 barrels.
    Successful bids in the auction ranged from around $95.40 a
barrel to as much as $103.012 a barrel.
    The DOE has said it would deliver the fuel to the buyers
between April 1 and May 10.
    It was the first test sale from the reserve since 1990.
    
            Company  Unit price  Volume    Delivery  Total
                     ($/barrel)                      price

 ExxonMobil             98.1762            pipeline          
                                 250,000               24.544
 ExxonMobil             97.1777            pipeline          
                                 250,000               24.294
 Marathon Petroleum       99.57            pipeline          
                                 300,000               29.871
 Marathon Petroleum       99.32            pipeline          
                                 250,000               24.830
 Marathon Petroleum       99.07            pipeline          
                                 200,000               19.814
 Marathon Petroleum       98.27            pipeline          
                                 250,000               24.568
 Marathon Petroleum       98.97            pipeline          
                                 200,000               19.794
 Mercuria Energy        95.4038            barge             
 Trading                          40,000                3.816
 Phillips 66              98.75            barge             
                                  40,000                3.950
 Phillips 66            103.012            pipeline          
                                 200,000               20.602
 Phillips 66              99.25            barge             
                                  40,000                3.970
 Phillips 66            102.162            pipeline          
                                 200,000               20.432
 Phillips 66             97.602            barge             
                                  40,000                3.904
 Phillips 66            102.012            pipeline          
                                 200,000               20.402
 Phillips 66              98.12            barge             
                                  40,000                3.924
 Phillips 66            100.612            pipeline          
                                 200,000               20.122
 Phillips 66            101.012            pipeline          
                                 200,000               20.202
 Phillips 66             96.952            barge             
                                  40,000                3.878
 Phillips 66             99.212            pipeline          
                                 200,000               19.842
 Phillips 66            100.512            pipeline          
                                 200,000               20.102
 Phillips 66             95.802            barge             
                                  40,000                3.832
 Phillips 66              99.01            pipeline          
                                 200,000               19.802
 Phillips 66             97.512            pipeline          
                                 200,000               19.502
 Shell Trading           96.932            vessel            
                                 520,000               50.404
 Shell Trading           97.302            barge             
                                 100,000                9.730
 Shell Trading           98.702            pipeline          
                                 300,000               29.610
 Shell Trading           97.452            pipeline          
                                 300,000               29.235
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