The current achievement rate of emergency stocks stands at over 102%. These reserves are used in cases of major supply disruptions, special emergency situations or local crisis situations, according to Law 85/2018 regarding the establishment and maintenance of minimum reserves of crude oil and petroleum products.
Storage obligation holders must continuously ensure the availability and physical accessibility of stocks for which they have storage obligations throughout the entire validity period of the maintenance obligation.
Emergency stocks maintained on Romanian territory can ensure domestic consumption for approximately 45 days, while stocks maintained externally through delegation cover a similar period, totalling 90 days. The mechanism for establishing, maintaining and monitoring emergency stocks, including those delegated externally, is applied across the entire European Union.
On this backdrop, Energy Minister Bogdan Ivan has submitted last week to the Government a set of proposals to mitigate the negative effects of the Middle East conflict on Romania's oil market.
