MPC · 10-Q · 2026Q3 · Full report
Strategic Petroleum Reserve Exchange
Marathon Petroleum Corp · 2026-11-03 · Importance 46 · Surprise 42 · In source text
In the first and second quarters of 2026, the U.S. Department of Energy accepted MPC’s bids to exchange crude oil barrels with the Strategic Petroleum Reserve. The SPR delivered approximately 21 million barrels to MPC during the second and third quarters of 2026. MPC agreed to return approximately 26 million barrels beginning in April 2027 and continuing through July 2029.
Key facts
- Marathon Petroleum agreed to return approximately 26 million barrels to the Strategic Petroleum Reserve from April 2027 through July 2029. source
- The Strategic Petroleum Reserve delivered approximately 21 million barrels of crude oil to Marathon Petroleum during the second and third quarters of 2026 under exchange arrangements. source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| liability | negative | committed | — | Marathon Petroleum agreed to return approximately 26 million barrels to the Strategic Petroleum Reserve from April 2027 through July 2029. |