EU and IEA Stocks Obligation
NORA meets its oil stockholding obligation by a combination of:
- Stocks owned by NORA and stored in Ireland and in other EU Member States with whom Ireland has concluded a Bi-lateral Oil Stockholding Agreement.
- Stocks held by NORA under short term commercial contracts ("Stock Tickets") in Ireland and in other EU Member States with whom Ireland has concluded a Bi-lateral Oil Stockholding Agreement. These contracts include an option to purchase the oil in emergency circumstances during the period of the contract.
The Department of Communications, Energy & Natural Resources (DCENR) determines the volumes of oil stocks NORA is to hold on an annual basis.
The current minimum levels of stocks to be held by NORA, for 2012, are:
| ||Category 1 Stocks (Gasoline) |
|Category 2 Stocks (Distillates) |
|Category 3 Stocks (Fuel Oils) |
|Volume ||315,000 ||1,071,000 ||Nil |
|No. of Days ||84 ||86 ||Nil |