Cores reserves

Level of obligation

CORES must hold 42 days of the overall obligation to maintain minimum security stocks (emergency stocks) in Spain, set at 92 days of eligible sales or consumption. The remaining 50 days are maintained directly by the industry. 

As a result of the latest IEA coordinated actions in 2022, the industry's obligation is temporarily reduced by 7.8 days. You can find more information here.

In addition, there is the possibility for CORES to maintain up to 100% of the obligation of the entities, upon their request and under certain conditions (ES). After attending these requests, CORES can assign its surplus to other EU Member States or their CSEs or other countries with which there is an intergovernmental agreement, or their agencies.

All of the reserves held by CORES are owned by CORES and are referred to as strategic stocks.  

Composition of strategic stocks

The strategic stocks are composed of the groups of products that constitute the obligation (gasolines, middle distillates and fuel oils), as well as a significant amount maintained in the form of crude oil. Gasoil represent almost half of strategic stocks.

Storage of strategic stocks

CORES stores most of the strategic stocks in facilities belonging to logistics companies and refineries, through rental contracts that include monitoring of the product specifications in force. CORES also has a small storage capacity itself. 

Geographic distribution of strategic stocks

The strategic stocks are distributed throughout Spain in five different areas, based on the consumption needs of each of them. CORES does not hold any stocks outside Spain.

Acquisition and sales of strategic stocks

CORES acquires and sells strategic stocks through tendering processes open to all its members. The particular conditions are established each time and the results are based on previously established criteria, in favour of the best offer.

CORES can also open storage capacity tender processes if it needs additional storage space.