On Monday, a website of the US Department of Energy said that energy firms have started to take back their crude oil being stored in the government’s emergency reserve in a renting deal dated back in April.
Since August 1, the firms have drawn 2.2 million barrels of oil, out of the 23 million barrels being leased in the Strategic Petroleum Reserve (SPR). The nine companies, including Exxon and Chevron, have until March 31, 2021, to get back their oil.
According to a trade source, two companies Exxon and Atlantic Trading & Marketing Inc (ATMI) were the ones taking back the volumes. Exxon obtained the biggest share in the space while ATMI won around 600,000 barrels. ATMI is a US arm of French oil major Total SA.
However, the two companies did not comment on the issue.
