Transposition of Oil Stocks Directive remains key priority concludes 10th Energy Community Oil Forum

Oil
26 September 2018

Formally opened by Aleksandar Antic, Minister of Mining and Energy of Serbia, the 10th Energy Community Oil Forum took place on 25 September in Belgrade. The Forum stressed the importance of timely transposition of the Oil Stocks Directive in order to ensure its full implementation by the 2022 deadline. The Forum acknowledged that this would require significant efforts by the majority of Contracting Parties, which are yet to decide and legislate the most appropriate oil stockholding model.  Only Serbia has transposed the Directive and started its implementation.

The Forum addressed a number of issues linked to ensuring that the Contracting Parties meet their reporting obligations under the Directive, including reporting using the Monthly Oil Statistics (MOS) questionnaire.

The role of oil in the energy transition was another key focus of the Forum. The Forum noted that oil would remain an important part of the energy mix in the near future and therefore it is imperative to minimize its negative impact on the environment and climate. This entails keeping up to date with the latest environmental regulations, including on the sulphur content in marine fuels.

In addition, the initial results of the study on the potential costs and benefits that would result from the implementation of Directive 98/70/EC relating to the quality of petrol and diesel fuels were presented. The assessment will be used to assist in the determination of when the Fuel Quality Directive will be incorporated into the Energy Community acquis.