Vol. 523 No. 5
178 Mr. Stanton asked the Minister for Public Enterprise if she will give details of the National Oil Reserves Agency Limited stocks; the circumstances in which reserves would be released; when such reserves were last released; the amount released at the time; and if she will make a statement on the matter. [21758/00]
As a member state of the EU and the International Energy Agency, Ireland is obliged to maintain, at minimum, a 90 day emergency oil reserve. The following table shows, in each of the three product categories specified under EU legislation, the number of days represented by stocks owned by, or held on behalf of, the National Oil Reserves Agency, either here in Ireland or at locations abroad.
The International Energy Agency has detailed procedures in place which set out the circumstances in which member states including Ireland would release emergency stocks as part of an overall response to a major international oil crisis. In Irish domestic legislation, I have power under the European Communities (Minimum Stocks of Petroleum Oils) Regulations, 1995 (SI No. 96 of 1995), in the event of a national or local emergency, to authorise the release of NORA stocks, even though this might result in a temporary infringement of the 90 day obligation.
NORA stocks were last released in December 1999, in response to a shortage of home heating oil in the Munster area, due to exceptional demand coming up to Christmas and the new year, and the interruption of normal supply arrangements because of a prolonged period of bad weather at sea. Some element of consumer stockpiling, in the context of possible Y2K disruption, was also suggested at the time. On that occasion, NORA was authorised to make available up to 5,800 tonnes of kerosene to the oil companies, on the basis that the agency would replace these stocks as soon as possible. In the event only 3,500 tonnes were required to be released.
NORA reserves are maintained to comply with binding international obligations. While the availability of these stocks provides a certain flexibility in dealing with temporary force majeure difficulties in our oil supply arrangements, this in no way detracts from the obligation on oil companies and major oil consumers to endeavour to maintain prudent stock levels at all times.
|
Category I(Gasoline)TonnesDays |
Category II(Distillates – diesel/gas oil;kerosene; jet fuel)TonnesDays |
Category III(Fuel Oil)TonnesDays |
|
|
Stocks required to be held by NORA |
317,91882 |
848,69977 |
157,69928 |
|
Stocks owned by NORAStocks held in Ireland.Stocks held in the UK and Sweden |
42,5611158,00015 |
248,9992382,0007 |
0000 |
|
Stocks held on NORA's behalfProduct Stocks held by INPCStock tickets abroad (rented stocks) |
82,00021140,00036 |
180,00017350,00032 |
50,0009115,00020 |
|
Total |
22,56183 (+1) |
860,99979 (+2) |
165,00029(+1) |
179 Mr. Stanton asked the Minister for Public Enterprise the way in which the most recent oil crisis in Britain and Europe impacted on refined products coming here; and if she will make a statement on the matter. [21759/00]
My Department maintained contact with the Irish oil industry over the period of the crisis and is not aware of any interruption of normal refined product imports as a consequence of the disruption which occurred elsewhere.
