Pentagon Places Orders for $2.3 Billion in Jet Fuel

Rich Smith, The Motley Fool
Updated

The Pentagon needs fuel. Fortunately, it's found a few companies willing to slake its thirst for oil.

On Tuesday, the Department of Defense awarded some $2.3 billion worth of contracts for "aviation turbine fuel." Most of the major oil and refining companies came away with contracts, including:

  • Royal Dutch Shell subsidiary Equilon Enterprises, which claimed the largest award at an estimated $474.1 million in maximum value.

  • Valero , winner of a nearly as large contract valued at up to $456.4 million.

  • ExxonMobil , winner of a $405.1 million contract.

  • Chevron , which won $391.4 million.

  • Western Refining , awarded a $268.7 million supply contract.

In addition, four other, smaller companies also won contracts. All nine contracts state June 30, 2014, as the deadline for delivery.

The article Pentagon Places Orders for $2.3 Billion in Jet Fuel originally appeared on Fool.com.

Fool contributor Rich Smith has no position in any stocks mentioned. The Motley Fool recommends Chevron and owns shares of Western Refining. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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Originally published