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 29.235Our Standards: The Thomson Reuters Trust Principles.