Purpose
CORES is a Corporation governed by Public Law, with legal personality and acting under Private Law. In conducting its activity, it is subject to the tutelage of the Central Government, exercised through the Ministry of Industry, Tourism and Trade.
Under Article 23 of Royal Decree 1716/2004, of July 23, the Corporation pursues the following:
- Constitution, maintenance and management of the strategic oil stocks, defined as such in Article 14 of this Royal Decree.
- Control of minimum security stocks referred to in Article 50 of Act no. 34/1998, of October 7, and Paragraph 1, Article 2 of this Royal Decree.
- Monitoring the compliance with the obligation to hold minimum security stocks of natural gas, as referred to in Article 98 of Act no. 34/1998, of October 7, and Paragraph 2, Article 2 of this Royal Decree.
- Monitoring the compliance with the obligation to diversify natural gas supplies provided for in Article 99 of Law 34/1998 of October 7 and Article 3 of this Royal Decree.
- Drawing up statistical reports relating to the hydrocarbon sector, and cooperating with the different Government Authorities for the purpose of providing information, advice and any other activity connected to areas within its competence.
Regarding this last responsibility, in his capacity CORES statistical agency is responsible with the Ministry of Industry, Tourism and Trade of the statistics contained in the National Statistical Plan for the period 2009/2012, according to Royal Decree 1663/2008 of 17 October, published in the Official Gazette of November 15, 2008, which has been updated in relation to 2011 by Royal Decree 1708/2010 of December 17, published in the Official Gazette of December 24, 2010.
To achieve its purpose, CORES exercises the powers established under Act no. 34/1998 on the Hydrocarbon Sector, and Royal Decree 1716 / 2004, amended by Real Decreto 1766 / 2007, as well as under its Statutes, which were approved by this same Royal Decree, and the rules of procedure for the aforesaid provisions.
It has been approved the Council Directive 2009/119/EC of 14 September 2009, to be transposed into the legislation of Member States to maintain minimum stocks of petroleum, oil or petroleum products, based on imports net or consumption as an importing country or consumer. It establishes rules designed to ensure a high level of security of oil supply in the Community, through reliable and transparent mechanisms based on solidarity between Member States to maintain minimum stocks of crude oil or petroleum products and procedures meet needed for severe shortages.
C/ AGASTIA 80, 28043 MADRID, ESPAÑA | E-MAIL: cores@cores.es
TLF.: +34 91 360 09 10 | FAX: +34 91 420 39 45