Draft law on minimum crude oil levels published – Romania, 19 May 2016

The Romanian Ministry of Energy has published a draft law on establishment of a minimum level of crude oil and petroleum products reserves. This draft law is necessary in order to replace the current legislature, since the European Commission (EC) requested that Romania implements the Directive 2009/119/EC.
The goal of this law is to ensure the safety and stability of oil and petroleum products supply in Romania in case of a major shortage or similar emergency. The draft law stipulates a stockholding obligation of non-resident economic operators which operate in the Romanian fuel market and operate in the country through a permanent establishment. It also removes previous limitations regarding the ownership of these crude oil and petroleum products stocks and requires that all operators must restock within 30 days from the day their stock diminished.

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