U.S. awards emergency reserve oil contracts to six cos, including Phillips 66, Shell

WASHINGTON (Reuters) – The U.S. Department of Energy on Thursday said six companies had been awarded contracts for the latest sale of oil from the Strategic Petroleum Reserve.

The contracts were awarded to companies including Phillips 66, Marathon Petroleum Supply and Trading LLC, Shell Trading (US) and Valero Marketing and Supply, the Energy Department said in a statement.

The sale is part of President Joe Biden’s previously announced plan to sell 180 million barrels of oil from the reserve. Deliveries will take place in December.

(Reporting by Katharine Jackson and Ismail Shakil; Editing by Tim Ahmann)