With Law dated 7 November 1977, no. 883, Italy implemented the Agreement on the International Energy Program, executed in Paris on 18 November 1974 and to be developed through the International Energy Agency. The Agreement established that each country participating in the Agency should maintain stocks of petroleum products equal to 65 days of daily consumption. Thereafter, with Law no. 22 dated 10 February, 1981, it was established that any holder of a concession for mineral oil processing and deposit activities was obliged to hold in stock 100 days of consumption, based on the consumption of petroleum products. Such Law also entrusted ENI to establish, for the Italian State, a strategic reserve of petroleum products. Such obligation to maintain stocks was later extended to the petroleum product importers for a quota equal to 5% of any imported quantity. This percentage was then increased to 20% with Law no. 61 dated 10 March, 1986, which also introduced the obligation for any entity bringing into the consumption cycle petroleum products to maintain a minimum of 90 days of stocks.
With Legislative Decree no. 22 dated 31 January 2001, among the other amendments on the detention of stocks, it was introduced the principle that the quantity maintained as stocks should have been equal to the higher of the values resulting from the two calculation algorithms used by the European Union and the IEA.
In the implementation of the Directive 2009/119/CE of the EU Council of 14 September 2009, which placed upon the Member States the obligation to maintain a minimum quantity of petroleum stocks, Legislative Decree no.249 dated 31 December 2012, revised the whole regulation on stocks.
Today, maintenance of emergency petroleum stocks is guaranteed annually by the subjects that in the previous year placed on the market energy products.
As a consequence of the above mentioned decree, the Italian Central Stockholding Entity (OCSIT) was formed within AU, to hold a certain amount of oil-related products (namely specific stocks) within Italy. OCSIT operates under the Ministry of Economic Development’s surveillance. Starting from the 1st of July 2014, OCSIT has the duty to acquire, maintain, sell, and transport specific stocks in the Italian territory.
The Ministry of Economic Development and OCSIT participate to the consulting “Coordination Group” whose mission is to facilitate the coordination and the execution of emergency measures. In this respect, the Ministry of Economic Development, with the support of OCSIT, prepares the “intervention plan” and the “contingency plan”to be applied in the event of a crisis for the implementation of the stock release and consumption reduction measures. Execution of the intervention and contingency plans is subject to the decision of IEA to carry out a coordinated action. However, in the absence of decision from IEA, in case of a domestic crisis (so called local crises), the Ministry of Economic Development may authorize the use of emergency and specific stocks to tackle the crisis and allow to go below the 90 days emergency stock threshold, even without any prior authorization from EC, which, in any case, shall be informed.
| DATE | TITLE | Reference |
|---|---|---|
| 30 September 2020 | Decreto Direttoriale DGISSEG - Deleghe di tenuta delle scorte obbligatorie all'estero o per l'estero | DECRETO DIRETTORIALE DGISSEG 30 settembre 2020 |
| 4 May 2023 | Definition of emergency stocks for crude oil and/or petroleum products, for 2023 stock year | DECRETO 19 aprile 2023 |
| 30 July 2021 | Semplificazione del sistema di tenuta delle scorte di sicurezza petrolifere - Decreto Semplificazioni - Art.31 quinquies | Semplificazione del sistema di tenuta delle scorte di sicurezza petrolifere - Decreto Semplificazioni - Art.31 quinquies |
| 30 July 2021 | Semplificazione del sistema di tenuta delle scorte di sicurezza petrolifere - Decreto Semplificazioni - Art.31 quinquies | Semplificazione del sistema di tenuta delle scorte di sicurezza petrolifere - Decreto Semplificazioni - Art.31 quinquies |
| 10 February 2021 | Circolare MiSE - Proroga dei termini della dichiarazione di immissione in consumo 2021/2022 | D.L.31 dicembre 2012, n.249. Circolare di spostamento dei termini per anno scorta 2021-2022 |
| 10 February 2021 | Circolare MiSE - Proroga dei termini della dichiarazione di immissione in consumo 2021/2022 | D.L.31 dicembre 2012, n.249. Circolare di spostamento dei termini per anno scorta 2021-2022 |
| 30 September 2020 | Decreto Direttoriale DGISSEG - Deleghe di tenuta delle scorte obbligatorie all'estero o per l'estero | DECRETO DIRETTORIALE DGISSEG 30 settembre 2020 |
| 14 August 2017 | Legge annuale per il mercato e la concorrenza - Attribuzione ad AU|OCSIT della CCGPL | Attribuzione ad AU|OCSIT della CCGPL |
| 14 June 2017 | Suppliers information on the application of the Split Payment tax system | Split Payment tax system |
| 28 February 2017 | Definition of emergency stocks for crude oil and/or petroleum products, for 2017 stock year | LEGISLATIVE DECREE 20 February 2017 |
| 3 March 2016 | Definition of emergency stocks for crude oil and/or petroleum products, for 2016 stock year | LEGISLATIVE DECREE 3 March 2016 |
| 10 December 2015 | Up-date of the delegation procedures abroad to keep the mandatory stocks of crude oil and/or petroleum products, starting from 1 April 2016 | Directorial Decree DGSAIE 23 November 2015 |
| 19 February 2015 | Definition of emergency stocks for crude oil and/or petroleum products, for 2015 stock year | Ministerial Decree 19 February 2015 |
| 30 April 2014 | Definition of emergency stocks for crude oil and/or petroleum products, for 2014 stock year | Ministerial Decree 30 April 2014 |
| 31 January 2014 | Guidelines to the Italian Stockholding Entity (OCSIT) on emergency stocks of petroleum products | Ministerial Decree 21 March 2014 |
| 6 June 2013 | Definition of emergency stocks for crude oil and/or petroleum products, for 2013 stock year | Ministerial Decree 6 June 2013 |
| 3 March 2013 | Extension to fishing moto ships and to petroleum products incorporated in other goods | Ministerial letter del 3 March 2013 |
| 17 January 2013 | International maritime bunkers and fish ships | Ministerial letter 17 January 2013 |
| 31 December 2012 | Implementation of Directive 2009/119/CE containing the member states’ obligation to maintain minimum stocks of crude oil and/or petroleum products | Legislative Decree n.249 31 Dicember 2012 |
| 7 November 1977 | Approval and execution of the agreement on an international energy program, executed in Paris on 18 November 1974 | Law 7 November 1977 n. 883 |
The first initiative to prevent possible crisis in the supply of crude oil and petroleum products dates back to 1968 with Directive 68/414/CEE, through which the Member States undertook the obligation to create and maintain strategic petroleum stocks.
This obligation, initially fixed in 65 days of internal consumption for each Country, has been later increased to at least 90 days with Directive 72/425/CEE. All procedures for maintenance of the stocks and their use have been revised and strengthened with Directive 98/93/CEE. Later on, the provisions of the various Directives, issued over time, have been merged in Directive 2006/67/CE, which abolished all of the prior Directives.
Directive 2009/119/EC introduced some changes in the procedures to be implemented and in the types of stocks. The quantity of stocks to be maintained is calculated on the basis of the higher value between 61 days of consumption and 90 days of net imports of the preceding year.
There is a stringent control on the quantities and location of the stocks by any Member State subject to this obligation, also in order to comply to the obligation to keep the European Commission informed.
| DATE | TITLE | Reference |
|---|---|---|
| 14 September 2009 | COUNCIL DIRECTIVE 2009/119/EC dated 14 September 2009 imposing an obligation on Member States to maintain minimum stocks of crude oil and/or petroleum products | COUNCIL DIRECTIVE 2009/119/CE 14 September 2009 |
| 22 October 2008 | Regulation (EC) No 1099/2008 of the European Parliament and of the Council dated 22 October 2008 on energy statistics | REGULATION (EC) No 1099/2008 |
In 1974, OECD, the Organization for the Cooperation and Economic Development, established a captive branch namely the IEA, International Energy Agency, with the aim of facing the questions related to the interruption in petroleum supplies in emergency situations.
The ways to respond to emergencies are established in the International Energy Program (IEP) dated 1974. The IEP agreement requires that the IEA member States shall maintain petroleum stocks for an equivalent of 90 days of net imports of petroleum and that, in case of a significant interruption on the petroleum supply, shall inject stocks into the internal market, reduce the demand, switch to other fuel oil and increase the production or the domestic quota of available crude oil, if necessary.
In addition to the modes indicated in the IEP agreement, IEA issued flexible rules for a coordinated release from stockholding of the crude and/or products, reduction of the demand and other measures that may be implemented in reply to an interruption of petroleum supplies.
The collective reaction actions by IEA are aimed at mitigating the negative impact of possible difficulties in the supply of crude oil and/or petroleum products, by making available to the market both crude oil and products through a combined action of emergency measures which include both the increase of the offer and the reduction in demand.
| DATE | TITLE | Reference |
|---|---|---|
| 9 May 2014 | Agreement on an International Energy Program (As amended 9 May 2014) | Agreement on an International Energy Program |