Jim O'Keeffe
Ceist:67 Mr. J. O'Keeffe asked the Minister for Public Enterprise if she will give details of oil reserves held within the State; and the contingency plans, if any, in place to cover the possibility of emergency shortages. [4717/98]
Written Answers - Oil Reserves.
Ireland, a member of both the International Energy Agency, IEA, and the European Union, is obliged to maintain a minimum of 90 days oil stocks against the possibility of disruption of oil markets. In December 1997, the latest date for which comprehensive figures are available, total stocks held amounted to 1,760,000 tonnes which is equivalent to 110 days. Of this total, 1,282,000, 80 days were held in Ireland with the balance held abroad. The stockholding held in Ireland is composed of operational, refinery and strategic stocks as follows:
|
tonnes |
days |
|
|
Operational stocks of oil companies and major consumers |
564,000 |
35 |
|
Whitegate refinery stocks |
455,000 |
28 |
|
Strategic stocks in Ireland |
263,000 |
17 |
|
Total |
1,282,000 |
80 |
As to contingency plans to deal with an emergency, my Department has the capacity to respond to potential oil supply disruptions whether such supply difficulties arose from external events such as conflict in the Middle East or circumstances originating locally such as a bottleneck at one of our main oil terminals. In so far as external emergencies are concerned, the emergency response capacity of my Department would complement those which have been established under the auspices of the International Energy Agency, IEA. In essence, any shortage of supply in world oil markets would require an international response under mechanisms agreed within the IEA. Our national contingency arrangements would enable us to respond as necessary to the particular disruption concerned and would include measures to restrain demand or to draw down stocks if necessary.
Any emergency response, whatever the cause, will rely upon close co-operation and consultation between my Department, INPC, the National Oil Reserves Agency, NORA and the oil importers to deal with the range of problems that can arise. Recent experience of the aftermath of theSea Empress incident at Milford Haven and the blockade of Dublin port last year confirm that these arrangements work effectively. However, my Department is currently reviewing its contingency arrangements to ensure that we continue to be in a healthy state of readiness in the event of an oil supply disruption.