WASHINGTON, Feb 28 (Reuters) - The Biden administration has awarded contracts worth $247.7 million to buy 3.2 million barrels of oil for the Strategic Petroleum Reserve (SPR) to Exxon Mobil, Macquarie Commodities, and Sunoco Partners Marketing & Terminals LP, the Energy Department said on Wednesday.
The contracts were advertised on Feb. 8 and delivery of the U.S.-produced crude oil is expected in July, the Energy Department said in a statement.
The oil is being purchased for an average price of $77.39 per barrel, lower than the average of about $95 per barrel that SPR crude was sold for in 2022, it added.
(Reporting by Eric Beech and Ismail Shakil)
