EEC oil-stock requirements and overseas reserves
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.
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?
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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.
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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——
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He can rest assured that the countries that have our stocks will be protecting our interests at all times.
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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——