CORRECTED-US OKs exchange with Exxon Mobil to aid Gulf Coast supplies

ReutersJul 11, 2025 4:26 PM

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WASHINGTON, July 11 (Reuters) - The U.S. Energy Department on Friday said it would provide up to 1 million barrels of crude oil from the Strategic Petroleum Reserve to help support ExxonMobil's XOM.N efforts to restore refinery operations as part of an SPR exchange.

"ExxonMobil will return the borrowed crude along with additional barrels of crude oil for the SPR at no cost to the taxpayer," the department said in a statement.

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