Ceisteanna—Questions. Oral Answers. - Oil Storage Capacity.
- National oil storage capacity 2 speeches
The Minister reported 1.4 million tonnes of company and consumer capacity, plus 1 million tonnes at Bantry Bay, and estimated stocks at about 93 days’ supply.
Ruairí Quinn, Ray Burke
- Bantry storage and refinery siting 5 speeches
O’Keeffe asked whether Bantry Bay’s storage facilities would influence the decision on where to site an Irish refinery; the Ceann Comhairle ruled it a separate question.
Jim O'Keeffe, Joseph Brennan
- EEC oil-stock requirements and overseas reserves 22 speeches
Barry sought clarification on the required stock period and where Ireland’s reserve stocks were held. Burke cited an EEC requirement of 90 days, then said 80 days were held in Ireland and the balance abroad, but could not identify the countries. He assured Barry that overseas stocks were protected; the Ceann Comhairle repeatedly ruled that the country details were outside the question’s scope.
Peter Barry, Ray Burke, Joseph Brennan
asked the Minister for Industry, Commerce and Energy the present storage capacity for oil within the country; and how long this country could last on the utilisation of such storage in the event of an oil embargo on this country.
Comment on this
The storage capacity maintained by oil companies and large oil consumers within the country amounts to 1.4 million metric tonnes. In addition, the Gulf Oil transhipment terminal at Bantry Bay has a storage capacity of 1 million metric tonnes.
It is not of course feasible to keep storage tanks filled to capacity at all times and the stock held here at any one time is estimated to be in the region of 93 days supply, when operational capacity for the companies operating in the Irish oil market and unfilled capacity in the Bantry Bay terminal are taken into account. In addition some stocks are held on our account in other EEC countries.
The length the country's reserve stocks would last in the event of an oil embargo on this country would depend to a large extent on the nature and extent of such embargo. It would also depend on the extent of demand restraint or rationing imposed by us. The Deputy is no doubt aware that this country, as a member of the International Energy Agency, would participate in an oil sharing system which would be activated when supplies to any one country or to all countries in the agency fell by 7 per cent.
Comment on this
In the light of the vast storage facilities at Whiddy Island, Bantry Bay, will that fact be borne in mind by the Minister and the Government when it comes to a decision in regard to the siting of a refinery in this country?
Comment on this
This question relates to oil storage. Supplementary questions should be for the elucidation of information sought in the original question.
Comment on this
What is the EEC regulation governing the number of days supply we must have in stock?
Comment on this
An EEC directive of 19 December 1972 obliges member State say 93 days' supply is currently in stock at present?
Comment on this
And there are bilateral agreements with other countries in which storage is held for us. Could the Minister tell me what countries they are and what proportion of our 90 or 93 days stock is held in those countries?
Comment on this
Returns furnished by oil companies and large consumers under the EEC Minimum Stocks of Petroleum Oils regulation of 1974 show that the total oil stocks held in Ireland, including 135,000 tons held at Bantry Bay on 1 December, is 80 days. The balance of our 90 days requirements are held by stocks outside the country. I am afraid I have not got the list of countries.
Comment on this
I am sure if the Minister looks further back in his brief he will see the countries with which we have bilateral agreements and the amounts. I am trying to establish the fact that we have only 80 days of the 90 held in this country and that the rest is held by bilateral agreement.
Comment on this
I am sorry. My memory of the Department in which the Minister of State is now working— unless they have slipped up badly in the last six months is that they have certainly supplied that information to the Minister and it is in his brief.
Comment on this
The question is: are our reserves under any threat—I assume that is the suggestion of the Deputy——
Comment on this
He can rest assured that the countries that have our stocks will be protecting our interests at all times.
Comment on this
The Minister should not put words in my mouth. I said absolutely nothing of the kind.
Comment on this
I am seeking to elicit information which is one of the purposes of Question Time. I believe that the Minister has that information——