Written Answers. - Oil Stocks.

Peadar Clohessy

Question:

23 Mr. Clohessy asked the Minister for Transport, Energy and Communications the volume and location of oil stocks in compliance with international obligations; whether the National Oil Reserves Agency reports on a regular basis; and if he will make a statement on the matter. [3868/97]

Ireland has international obligations arising from European Union Directives and membership of the International Energy Agency to maintain at all times the equivalent of 90 days stocks of crude oil and/or oil products, based on the previous year's consumption.

Our national oil stocks consist of operational stocks held by oil companies and major importing consumers at various locations around the country for the purpose of trade; stocks held in Ireland by or on behalf of the National Oil Reserves Agency at Whitegate Refinery, Whiddy Oil Terminal and at oil company facilities at Dublin and Shannon, and stocks held abroad under bilateral agreements on behalf of NORA in Denmark, the Netherlands and the UK.

We have 1.6 million tonnes of oil stocks. All our fuel oil requirements are held in Ireland. We have approximately 42 days petrol and diesel stocks held abroad. Under the International Energy Agency method of calculation which is based on net imports of crude oil equivalent stocks amounted to 102 days of net imports. The National Oil Reserves Agency reports its stockholding on a monthly basis to my Department. The Department also receives monthly reports from oil companies and major consumers.