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Law No. IX-986 “On petroleum products and petroleum reserves”.

Country/Territory
Lithuania
Document type
Legislation
Date
2002 (2017)
Source
FAO, FAOLEX
Subject
Energy
Keyword
Oil Natural gas Business/industry/corporations Transport/storage International trade Contract/agreement
Geographical area
Europe, Europe and Central Asia, European Union Countries, Northern Europe
Entry into force notes
This Law enters into force on the date of its official publication.
Abstract

The scope of this Law shall be to ensure stockpiling, management, storage, maintenance and regulation of stock of oil (petroleum) products and oil (petrol). It shall be applicable to obligated companies - oil refineries, oil products and/or oil importing companies, with the exception of the State Enterprise Lithuanian Oil Products Agency, which, in accordance with the provisions of this Law, accumulate and manage oil products and oil stocks and which have been processed or manufactured or imported to the national territory. The authorized state institution in energy sector, the State Energy Inspectorate, periodically verifies and monitors oil stock accumulation and inventory thereof. The State Enterprise Lithuanian Oil Products Agency may conclude fixed-term agreements for the storage and handling of stocks other than special stock. Stocks must be stored in the form of petroleum products and/or crude oil, intermediate petroleum products or mixtures for processing into final petroleum products. Crude oil or intermediate petroleum products must be converted into petroleum products in accordance with the Rules. Special stocks must be stored in the form of petrol, kerosene, jet fuel, gas oil, diesel and (or) heavy fuel oil. Stocks stored on the national territory must be kept in such a way that they can be delivered at any time to the end users at the request of the Ministry of Energy. In the case of the extreme energy situation in the oil sector, the Government, the Ministry of Energy and the Emergency Commission shall be entitled to take energy supplies and/or energy resources.

Full text
Lithuanian
Website
e-seimas.lrs.lt

References - Legislation

Amended by

Law No. XIII-1450 amending Law No. IX-986 “On petroleum products and petroleum reserves”.

Legislation | Lithuania | 2018

Keyword: Oil, Natural gas, Business/industry/corporations, Transport/storage, International trade

Source: FAO, FAOLEX