EUROPEAN COMMISSION CONSULTS ON IMPROVING OIL STOCKS SYSTEM
April 1st, 2008
BY KEITH NUTHALL
THE EUROPEAN Commission is consulting the transport sector on whether European Union (EU) governments need to retain direct control over a third of the 90-days of oil stocks that they must maintain under EU law. At present, many member states count stocks held by commercial oil companies in their reserves, but the Commission is concerned that such fuel might not be easily available in dire need. So it has suggested governments must "maintain a minimum proportion, for example at least a third, of dedicated stocks under stricter control of ...
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