{"id":17520,"date":"2022-09-15T19:43:42","date_gmt":"2022-09-15T19:43:42","guid":{"rendered":"http:\/\/legalblog.ie\/?p=17520"},"modified":"2022-09-24T21:56:34","modified_gmt":"2022-09-24T21:56:34","slug":"energy-stocks","status":"publish","type":"post","link":"https:\/\/legalblog.ie\/energy-stocks\/","title":{"rendered":"Energy Stocks [EU]"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_63 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/legalblog.ie\/energy-stocks\/#Emergency_oil_stocks\" title=\"Emergency oil stocks\">Emergency oil stocks<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/legalblog.ie\/energy-stocks\/#Key_Points\" title=\"Key Points\">Key Points<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/legalblog.ie\/energy-stocks\/#Application_Background\" title=\"Application &amp; Background\">Application &amp; Background<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/legalblog.ie\/energy-stocks\/#MAIN_DOCUMENT\" title=\"MAIN DOCUMENT\">MAIN DOCUMENT<\/a><\/li><\/ul><\/nav><\/div>\n<h3><span class=\"ez-toc-section\" id=\"Emergency_oil_stocks\"><\/span>Emergency oil stocks<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Directive 2009\/119\/EC obliging EU countries to maintain minimum stocks of crude oil and\/or petroleum products<\/p>\n<p>It aims to secure the European Union (EU) oil supply by requiring governments to keep a minimum level of crude oil and\/or petroleum stocks.<br \/>\nIt sets out procedures for releasing these if there is a serious shortage.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Key_Points\"><\/span>Key Points<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>EU countries must:<\/p>\n<p>maintain total oil stocks equivalent to at least 90 days of average daily imports or 61 days of consumption \u2014 whichever is the higher;<br \/>\nensure that stocks are readily available and accessible in the event of an emergency;<br \/>\nkeep an updated register of their emergency stocks and send the data to the European Commission by 25 February every year;<br \/>\nmaintain an updated register of specific stocks, such as motor and aviation gasoline, held within their territory and supply the Commission with the information within 15 days of receiving a request to do so;<br \/>\nsend the Commission monthly summaries of the level of the commercial stocks held on their territory;<br \/>\nhave contingency plans in place to respond to a major disruption in supply and be able to release some or all of their emergency stocks quickly and effectively;<br \/>\nallow companies and other entities that are required to hold oil stocks to delegate some of that responsibility, subject to certain conditions.<\/p>\n<p>EU countries may set up central stockholding entities to acquire, maintain or sell stocks to comply with the directive.<\/p>\n<p>Import and consumption levels used to calculate the minimum level of stocks are based on the previous year\u2019s data.<br \/>\nAn advisory oil and petroleum products coordination group helps the Commission analyse security of supply for the EU.<\/p>\n<p>The Commission may, working with national authorities, review emergency preparedness procedures.<br \/>\nBy 31 December 2015, the Commission had to review how the legislation was implemented.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Application_Background\"><\/span>Application &amp; Background<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>The directive has applied since 29 October 2009. EU countries had to incorporate it into national law by 31 December 2012.<\/p>\n<p>For more information, see:<\/p>\n<p>\u2018EU oil stocks\u2019 on the European Commission&#8217;s website.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"MAIN_DOCUMENT\"><\/span>MAIN DOCUMENT<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Council Directive 2009\/119\/EC of 14 September 2009 imposing an obligation on Member States to maintain minimum stocks of crude oil and\/or petroleum products (OJ L 265, 9.10.2009, pp. 9-23)<\/p>\n<!--themify_builder_content-->\n<div id=\"themify_builder_content-17520\" data-postid=\"17520\" class=\"themify_builder_content themify_builder_content-17520 themify_builder tf_clear\">\n    <\/div>\n<!--\/themify_builder_content-->\n","protected":false},"excerpt":{"rendered":"<p>Emergency oil stocks Directive 2009\/119\/EC obliging EU countries to maintain minimum stocks of crude oil and\/or petroleum products It aims to secure the European Union (EU) oil supply by requiring governments to keep a minimum level of crude oil and\/or petroleum stocks. It sets out procedures for releasing these if there is a serious shortage. [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[119,215],"tags":[],"_links":{"self":[{"href":"https:\/\/legalblog.ie\/wp-json\/wp\/v2\/posts\/17520"}],"collection":[{"href":"https:\/\/legalblog.ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/legalblog.ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/legalblog.ie\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/legalblog.ie\/wp-json\/wp\/v2\/comments?post=17520"}],"version-history":[{"count":2,"href":"https:\/\/legalblog.ie\/wp-json\/wp\/v2\/posts\/17520\/revisions"}],"predecessor-version":[{"id":18439,"href":"https:\/\/legalblog.ie\/wp-json\/wp\/v2\/posts\/17520\/revisions\/18439"}],"wp:attachment":[{"href":"https:\/\/legalblog.ie\/wp-json\/wp\/v2\/media?parent=17520"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/legalblog.ie\/wp-json\/wp\/v2\/categories?post=17520"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/legalblog.ie\/wp-json\/wp\/v2\/tags?post=17520"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}