NESO –Oil Security Commision meeting

On 16-th of October 2019, regular meeting of NESO was organized in premises of the Administration of State Material Reserves of the Slovak Republic (ASMR SR).

At the meeting, the representative of the ASMR SR informed the attendees of the prepared emergency plan, the preparation of which is determined by Act no. 218/2013 Coll. on emergency stocks of oil and petroleum products and on dealing with state of oil emergency and on amendments and supplements to certain acts (herein after referred to as “Act No. 218/2013 Coll.”). The draft of emergency plan was submitted to the members of the commission requesting comments by 25-th of October 2019, after which the emergency plan will be forwarded to the interministry comment procedure. At the same time, a representative of the ASMR SR informed about the adoption of the amendment to Act no. 218/2013 Coll. with effect as of 1-st of January 2020, into which European legislation has been transposed. The amendment to the Act also included a new option for dealing with emergency stocks at the time of releasing by means of a loan, and some procedures were also modified in order to deal effectively with the state of oil emergency.

EOSA representative reported on the current state of emergency stocks of crude oil and petroleum products (EOSA maintains emergency stocks at the level of 92.6 days of average daily net imports) and on the implementation of the 2019 petroleum product refreshment plan. Next point of the agenda was dedicated to ERE 10 (Emergency Response Exercise), which is planned to be carried out by the International Energy Agency in the first quarter of 2020 and which will also involve the Slovak Republic through its representatives. The aim of the exercise will be to verify, in a hypothetical case study, the readiness of the IEA Member States to deal with oil shortages, as well as theoretical training in engaging in collective action - releasing emergency stocks by IEA member countries.