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Royal Dutch Shell Plc and Vitol Group supplying 16.8 million barrels of oil to U.S. Strategic Petroleum Reserve

Bloomberg

 

 

By Nadja Brandt

Jan. 19 (Bloomberg) — Royal Dutch Shell Plc (RDSA NA): Europe’s largest oil company and Vitol Group will supply 16.8 million barrels of oil to the U.S. Strategic Petroleum Reserve under a contact award announced by the Energy Department. The department is paying $553 million for 10.7 million barrels. It will also get 6.1 million barrels of oil in lieu of royalty payments for federal drilling leases from Shell and Glencore International AG. Shell shares advanced 42 cents, or 2.3 percent, to 19 euros.

Extract from Bloomberg Article

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