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.

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.