The US Department of Energy has authorized the emergency release of up to 4 million barrels of crude oil from the Strategic Petroleum Reserve to mitigate supply disruptions caused by a hurricane in the Gulf of Mexico.
Sea-news.az reports the information was released by the department’s press service.
Under the agreement, “ExxonMobil” and “BP America” will each receive up to 2 million barrels of oil. Both companies are obligated to return the borrowed volumes alongside additional barrels to the reserve in 2027. US Energy Secretary Chris Wright stated that the decision aims to support refinery operations and prevent fuel supply shortages.
Hurricane “Isaias” made landfall along Florida’s Gulf Coast on the evening of October 9, claiming at least two lives.
