Dáil Éireann díospóireacht -
Wednesday, 11 Mar 1992

Vol. 417 No. 2

Written Answers. - Fuel Stocks.

Séamus Pattison

Ceist:

24 Mr. Pattison asked the Minister for Energy if he will outline the current national strategic stocks of petrol, diesel, gas oil, LPG, and kerosene, including fuel expressed in terms of ways of supply available, at the latest date possible; if he will break down the figure between strategic stocks and operating stocks; if he will further identify the number of days held in private hands; if he has satisfied himself that the State and private holders of stocks are still meeting all their obligations, including EC obligations, in this regard; if he will further outline the steps if any, he is taking to, (1) increase stocks and (2) assure our national strategic stocks for the future; and if he will make a statement on the matter.

Jim Mitchell

Ceist:

62 Mr. J. Mitchell asked the Minister for Energy his views on whether Ireland needs to review its policy on strategic oil stocks in the context of deregulating oil prices.

Minister for Energy (Mr. Molloy)

I propose to take Questions Nos. 24 and 62 together.

On 1 February 1992 the latest date for which figures are available, the national stocks of oil products reported to the EC were as follows: petrol 103 days, gasoil (also known as diesel) 104 days, and fuel oil 241 days. This includes the allocation of crude according to the method approved by the EC. The number of days supply held other than by the INPC was as follows: petrol 44 days, gasoil 54 days and fuel oil 215 days. Records are kept to adhere to the requirement of the EC and IEA, which does not require records of stocks of LPG or jet fuel, nor is it necessary to make a distinction between operating and strategic stocks. Kerosene, other than jet fuel, is included in the gasoil figure.

The performance of the oil companies in relation to their stockholding obligations varies. I am making every effort to improve the performance of those companies which are not meeting their obligations in full at present.

Ireland continues to meet our EC and IEA obligations in relation to all specified stock categories, and it is my intention that we should continue to do so. I have no plans for action to increase stocks, as I do not see any necessity for it. The deregulation of oil prices has not affected Ireland's strategic oil stock policy.

The House may wish to note that the EC is reviewing the EC policy on methods of oil stockholding. This is at a very early stage, but could in the future have a significant impact on national policies in this area. My Department is participating directly in these discussions within the EC.