Vol. 440 No. 8
34 Mr. J. O'Keeffe asked the Minister for Transport, Energy and Communications the amount of oil in Whiddy oil terminal and its value; whether he intends to retain, increase or reduce the oil stock in the short term; and the plans, if any, he has in the medium term for the terminal.
Currently 205,000 tonnes of crude oil are stored at Whiddy terminal. At average crude prices and dollar exchange rates for February 1994 the crude in Whiddy would have a replacement value of £15.7 million. There are no plans at present to increase or dispose of any of the stock at Whiddy. Retention of the stock is necessary to ensure that Ireland complies with European Union and International Energy Agency obligations in relation to the holding of strategic oil stocks. In the medium term it is the Government's objective to secure an investor who would be interested in reactivating the terminal for commercial purposes.
