Vol. 403 No. 8
127 Mr. D. Ahern asked the Minister for Energy if, in view of the fact that there is an obligation under legislation on Irish oil distribution companies to hold 80 days' stocks of petroleum products at any one time, he will outline the measures which are taken by him to enforce this legislation; if any prosecutions have resulted in this regard in the years 1989 and 1990; and if he will make a statement on the matter.
Under the European Communities (Minimum Stocks of Petroleum Oils) Regulations, 1974, I have the authority to prosecute oil companies or large consumers who do not meet their stocks obligations. My main concern is to ensure that there are adequate stocks in the country to provide for any supply difficulty. Both the EC and the IEA requirement is that member countries have 90 days' stock available to them. Our stocks now stand at about 120 days' forward consumption and I am, therefore, satisfied that we have adequate quantities at our disposal to cope with a supply disruption. No prosecutions were initiated by me in either of the years 1989 or 1990.
