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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 supplies of natural gas, as referred to in Articles 98 and 99 of Act no. 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.
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.
CORES. CORPORACIÓN DE RESERVAS ESTRATÉGICAS DE PRODUCTOS PETROLÍFEROS
C/ AGASTIA 80, 28043 MADRID, ESPAÑA | E-MAIL: cores@cores.es
TLF.: +34 91 360 09 10 | FAX: +34 91 420 39 45
C/ AGASTIA 80, 28043 MADRID, ESPAÑA | E-MAIL: cores@cores.es
TLF.: +34 91 360 09 10 | FAX: +34 91 420 39 45