The activities performed by CORES, defined in article 23 of Royal Decree 1716/2004, are focused on the areas of hydrocarbon supply security and serving as an information resource in the sector. In addition, Royal Decree 376/2022 establishes biofuel control functions.
CORES and security of hydrocarbon supply
Spain has a mixed stockholding system in which responsibility for holding hydrocarbon stocks is shared between CORES and the industry. CORES’ foremost activity is to constitute, maintain and manage strategic stocks of crude oil and oil products. Currently this is equivalent to at least 42 days of total national requirements, which are set at 92 equivalent days of consumption. As a result of the latest IEA coordinated actions in 2022, the industry's obligation is temporarily reduced by 5.6 days. You can find more information here.
Additionally, CORES monitors compliance with the obligation to hold minimum security stock levels of oil products, LPG and natural gas on the part of different industry players.
Finally, also with regard to security of supply, another activity sets CORES apart from other, similar European entities. CORES contributes to ensuring appropriate diversification of Spain’s natural gas supply, controlling the supply to ensure that no one country of origin provides more than 50%, in accordance with the current legal limit.
In the Security of Supply section, the Spanish model is explained in detail.
CORES and biofuels control
Since May 2022, CORES supervises and controls biofuels sales or consumption targets for transport purposes. CORES also monitors compliance with sustainability criteria and greenhouse gas emissions reductions from biofuels for transport purposes. As part of this, CORES monitors certification bodies and verification entities.
Find out more about this activity here.
CORES as a statistical agent
As part of the legal obligation for the maintenance of minimum security stocks, sector operators are required to submit details of their activity on a monthly basis. CORES is a statistical agent in the hydrocarbon sector in Spain and provides official statistics to different organisations, contributing official data to various chapters of the National Statistics Plan. This activity is different from those performed by other European entities similar to CORES, as its work controlling the diversification of natural gas suppliers.
These actions are reflected in the regular updating of its website with different statistics, publications and reports, making CORES a recurring source of information in the sector.
Check here how the Corporation prepares its statistics and publications.
CORES as an advisor to the Administration
In its more than 25 years of existence, CORES has positioned itself as an active player in the hydrocarbon sector, providing technical support to the Ministry for the Ecological Transition and the Demographic Challenge, participating regularly in different forums and work groups on a national and international level, and contributing to promote the image of Spain as a model of efficiency and energy security.
Check more information about this activity here.
CORES contributes to ensuring security of supply for oil products and natural gas in Spain, with new functions related to biofuels control, and is also a statistical agent in the hydrocarbon sector