Corporación de Reservas
Estratégicas
de Productos Petrolíferos

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

Regulation

Spain was one of the first countries to establish a stockholding obligation for minimum security stocks of petroleum products, starting with the creation of the Petroleum Monopoly in 1927. Subsequently, Spain became subject to international regulations on this matter when it joined the International Energy Agency in 1974 and the European Union in 1986.

The fundamental Spanish regulations in force are Law 34/1998 on the Hydrocarbon Sector and Royal Decree 1716/2004 of 23 July, which regulates the obligation to maintain minimum security stocks, the diversification of natural gas supplies and the Corporación de Reservas Estratégicas de Productos Petrolíferos (CORES). 

This section on regulation essentially includes those that govern the obligation to maintain minimum security stocks, as well as CORES’ work as the stockholding entity that maintains reserves (in those cases where there is a consolidated regulation it has been included in this reference guide).

All Spanish documentation in this section is in its original language

Regulation comprising international agreements and European directives addressing security of supply for crude oil, petroleum products and natural gas
Regulation referring to CORES’ stockholding of strategic reserves, control of minimum strategic stock maintenance, control of natural gas supply diversification and CORES’ statistical functions
Classification of regulation based on CORES’ three sectors of activity: petroleum products, LPG and natural gas. This includes basic regulations as well as those that determine the way each sector’s obligations must be met