§ Dr. CableTo ask the Secretary of State for Trade and Industry what the current strategic reserve of(a) crude oil and (b) oil products is in the U.K. [174108]
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§ Mr. TimmsThe UK does not have a strategic reserve. It meets its international stocking obligations by imposing compulsory oil stocking obligations on commercial companies. These amount to 67½ days of average daily consumption for refiners and 48½ days of average daily consumption for non-refiners. As at the end of February 2004, the UK held stocks of crude oil and petroleum products equivalent to almost 76 days of average daily consumption.
§ Dr. CableTo ask the Secretary of State for Trade and Industry if she will make a statement on the current position on UK stocks of(a) crude oil and (b) main oil products in relation to average daily consumption. [174111]
§ Mr. TimmsAs at the end of February 2004, the UK held stocks of crude oil and petroleum products equivalent to almost 76 days of average daily consumption. This is some eight days in excess of our EU stockholding obligations of 67½ days worth of average daily consumption.