Written answers

Wednesday, 6 July 2022

Department of Communications, Climate Action and Environment

Fuel Prices

Photo of Michael Healy-RaeMichael Healy-Rae (Kerry, Independent)
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18. To ask the Minister for Communications, Climate Action and Environment further to Parliamentary Question Nos. 240 of 14 June 2022 and 169 of 23 June 2022, if he will address a matter in relation to the name of the 100 fuel stations in the event of a national fuel scarcity (details supplied); and if he will make a statement on the matter. [36596/22]

Photo of Eamon RyanEamon Ryan (Dublin Bay South, Green Party)
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Overall, Ireland is reasonably well insulated from direct supply shocks linked to Russian oil supply, as few imports of crude oil and a comparatively small proportion of Ireland’s refined product are imported from Russia. In addition, since the outbreak of the war Irish importers have indicated that they are working to voluntarily move away from Russian oil.

The short to medium term supply outlook is also positive, with petroleum product availability having improved somewhat in the last few weeks and no major supply difficulties expected by industry in the immediate term. NORA, the National Oil Reserves Agency, currently holds approximately 85 days of oil stocks, the overwhelming majority of which is in the form of physical product, with approximately 85% stored on the island of Ireland.

Notwithstanding the improved supply position, my Department, in conjunction with NORA, continues to work closely with the petroleum industry to monitor supplies of oil into the Irish marketplace. NORA is ready to release strategic stocks to the market, if required. Some reserves were released by NORA in early March and early April as part of a co-ordinated global release of reserves agreed by members of the International Energy Agency (IEA).

In the context of contingency planning, work continues on operational planning for all scenarios. The activation of any such plans is not envisaged, however, as is the case for other jurisdictions across Europe, such planning is appropriate and prudent in the context of the ongoing war in Ukraine. Detailed operational matters around contingency planning are not published. I can assure the Deputy that, in the unlikely event that worst-case scenarios arise with respect to oil supply disruptions, the public will be notified of contingency arrangements in good time.

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