Corporación de Reservas
Estratégicas
de Productos Petrolíferos

Public Law Corporation
under the aegis of the
Ministry for the
Ecological Transition

Operational financing

CORES’ income consists of the fees paid by its members and the other entities obliged to maintain minimum security stocks, which pay monthly or annual contributions based on their sales or consumption.

The unit fee is determined according to the provisions of article 25 of R.D. 1716/2004 (ES).

The fees are calculated annually by CORES, based on its income and expenses budget, which includes the estimate of the financial means necessary to fulfil its objectives. Once the budget has been approved by the Board of Directors, it is presented to the members of CORES at the General Assembly. Then the fee proposal is forwarded to the Ministry for the Ecological Transition for its subsequent ratification by means of a Ministerial Order.

The possibility of imposing special fees when needed exists, in order to ensure CORES’ financial solvency at all times. These extraordinary fees are established by Order of the Ministry for the Ecological Transition upon proposal by CORES.

The regulation guarantees sufficient income to cover all of CORES’ operational and financial expenses, which means that CORES can never report negative results.

 

 All documentation in this section is in its original language (Spanish)

Latest Ministerial Orders approving CORES fees
Document title Month Year Files
Orden TEC/975/2019, de 30 de septiembre Oct 2019
Orden TEC/1428/2018, de 27 de diciembre Jan 2019
Browser for Ministerial Orders approving CORES fees
All CORES members are obliged to financially support its activities
The monthly fee income minimizes operational financing needs
The CORES fee represents a minimal component of the retail price for petroleum products
Average retail price 2018
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