Snobdds
Elite Member
April went like this:
On April 1, 2022, DOE issued the second Notice of Sale for a price-competitive sale of 30 million barrels of SPR crude oil. A total of 16 companies responded to this notice, submitting 126 bids for evaluation. Contracts were awarded to the following 12 companies:
- Atlantic Trading & Marketing, Inc. (2.1 million barrels)
- Chevron USA (1.025 million barrels)
- Equinor Marketing & Trading (0.7 million barrels)
- ExxonMobil Oil Corporation (3.6 million barrels)
- Glencore Ltd. (2.6 million barrels)
- Marathon Petroleum Supply and Trading LLC (2.375 million barrels)
- Mercuria (0.5 million barrels)
- Motiva Enterprises LLC (4.05 million barrels)
- Phillips 66 Company (2.5 million barrels)
- Shell Trading (US) Company (2.75 million barrels)
- Unipec America, Inc. (0.95 million barrels)
- Valero Marketing and Supply Company (6.85 million barrels)
I know who took it to be processed, but you implied something else. You implied we sold high and can now buy cheap (low). That means we bought for x, sold for Y and can get more barrels than we paid for x at the time.
How are you concluding this?