Story perspectives

DOE Authorizes Up to 400,000-Barrel SPR Exchange for Phillips 66

By Drooid · Oct 24, 2026, 2:55 PM UTC · How we work

Summary

Story summary

The U.S. Department of Energy authorized exchanging up to 400,000 barrels from Strategic Petroleum Reserve for Phillips 66’s Lake Charles refinery.
The reserve is at its lowest level since 1982 after drawdowns by Presidents Donald Trump and Joe Biden.
The exchange will offset temporary crude delivery disruptions and support transportation fuel production for Louisiana markets.
Phillips 66 spokesperson confirmed the refinery will receive SPR crude and declined comment on operations.

1 of 1

Story summary

The U.S. Department of Energy authorized exchanging up to 400,000 barrels from Strategic Petroleum Reserve for Phillips 66’s Lake Charles refinery.
The reserve is at its lowest level since 1982 after drawdowns by Presidents Donald Trump and Joe Biden.
The exchange will offset temporary crude delivery disruptions and support transportation fuel production for Louisiana markets.
Phillips 66 spokesperson confirmed the refinery will receive SPR crude and declined comment on operations.