asked the Minister for Energy the number of days' stocks of oil held by Ireland; the locations at which it is held and the respective volume in each location; and if he will make a statement on the way in which these stocks compare with internationally recommended levels.
Written Answers. - Oil Stocks.
97.
According to the most recent figures available, those for September 1987, Ireland holds almost 80 days stocks overall, including 84 days stocks of motor spirit and middle distillates.
Of the total stocks of 808,515 tonnes, 669,943 tonnes are held on Irish soil and the balance of 138,572 are held abroad on behalf of oil companies operating in Ireland. This is permitted under the terms of an EC Directive. Of the 669,943 tonnes held on Irish soil, 254,958 tonnes are held by importing oil companies, 245,605 tonnes by large oil consumers and the balance of 169,380 by the Irish Refinery plc, a wholly owned subsidiary of the Irish National Petroleum Corporation.
By reason of our EC and IEA membership we are obliged to hold oil stocks equivalent to 90 days requirements. Over the years this figure has not always been met. Recent months, however, have shown a steady improvment in our stock levels and other measures to improve the situation further are under consideration.