The Emergency Oil Stock Agency (hereinafter referred to as the "Agency") was established on September 13, 2013 as the central entity for the management of emergency stocks of oil and petroleum products for the Slovak Republic on the basis of Act no. 218/2013 Z.z. on emergency stocks of oil and petroleum products and on dealing with state of oil emergency and on amendments and supplements of certain acts (hereinafter referred to as „Act on Emergency Stocks“).
The Agency is an interest association of legal entities, the subject of which is the maintenance of emergency stocks of oil and petroleum products (hereinafter referred to as "emergency stocks") for the purpose of their use in the event of a state of oil emergency or to meet international obligations, by which the Slovak Republic is bound. As part of its duties, the Agency maintains emergency stocks for the Slovak Republic at least in the legally established amount corresponding to at least 90 days of average daily net imports of oil and petroleum products. Emergency stocks must be continuously prepared for immediate release for the purpose of solution the emergency situations.
In accordance with § 3 par. 1 of the Act on Emergency Stocks, every Selected entrepreneur (see § 2 letter d of the Act on Emergency Stocks) is obliged to ensure the maintenance of emergency stocks through the Agency, by concluding a Contract on procuring the maintenance of emergency stocks.