Control of stocks
One of CORES’s activities consists of monitoring compliance with the obligation to maintain minimum security stocks of petroleum products, whose availability and physical accessibility should be guaranteed to allow verification at any time. The procedures that guide this activity are included in the Inspection Manual that is available to the obligated entities.
Control of minimum security stocks
Cores inspection area is facing new challenges to adapt to the new environment characterised by a growing number of obligated entities with a significant increase in the casuistry and the variety of their operations. Likewise, an adaptation and progressive renewal is required, determined by the frequency increase of inspections and reduction of their execution times, in order to discriminate, in the shortest time possible, those entities who fail to comply with their obligations and/or with allegedly fraudulent activities.
To face these challenges, Cores has the Inspection Division in its organizational structure, with the knowledge and internal experience of the Corporation, whilst developments are being made to adapt the inspection activity to all new technologies.
Two types of checks are made:
- Documentary checks: based on the analysis of the information that the obligated entity has to send in to CORES (periodic information and information requested for this purpose)
- Physical checks: inspection of physical quantities and the quality of the stocks stored
These controls may be done in accordance with an annual plan that classifies the obligated entities based on their features and history, or they may arise due to detection of noncompliance by an obligated entity.
Noncompliance includes the following:
- Noncompliance in the maintenance of minimum security stocks
- Noncompliance in the payment of the monthly CORES fee
- Noncompliance in the submission of mandatory information
An investigation is opened upon detection of any noncompliance. If the offence is confirmed, the information is forwarded to the competent administrative authority. These incidents of noncompliance are considered serious offences under Law 34/1998.
Control of strategic stocks
CORES checks the quantity and quality of the strategic stocks (reserves held by CORES) through regular inspections at the storage facilities where they are located. The checks are made on both crude oil and petroleum products. In the case of gasoline, additional analyses are carried out due to its particularities, making it possible to predict this product’s aging.