Petroleum stocks compliance
Ireland met the 65-day EEC requirement until December 1974, but stocks have since ranged from 72 to 83 days against the new 90-day target; regulations seek to increase them.
asked the Minister for Transport and Power if this country has complied with the EEC emergency stocks directive to maintain a certain level of petroleum stocks.
Comment on this
Up to December, 1974, Ireland was in compliance with the EEC directive which required member states to maintain oil stocks at a level corresponding to 65 days average daily consumption. The requirement was raised to 90 days with effect from 1st January, 1975, and during the period since then our stocks have varied from 72 days to 83 days. I recently made regulations requiring the oil companies to increase their stocks and I am considering the further steps which can be taken to bring the level up to 90 days.