Law 34/1998 on the Hydrocarbon Sector

Country / jurisdiction: Spain · Year: 1998 · Status: In force · Level: National · Type: Voluntary

The purpose of this Law is to provide the legislative framework to standardise the field of hydrocarbons in Spain. Article 50 states that any operators authorised to wholesale petroleum products and any company that carries out a retail distribution activity of products not purchased from the aforementioned operators must maintain minimum safety stocks of petroleum products at all times. The Corporation of Strategic Reserves of Petroleum Products is also empowered by the Government to maintain minimum stocks.

In addition, the sectorial law establishes the permit regime applicable to both petroleum products and natural gas, establishing the infrastructures and the agents in charge of their management. In particular, for petroleum product infrastructures, articles 39-41 are set out, while for natural gas it is mainly in article 55.

According to article 49, owners of oil exploration/production concessions may be ordered by the Spanish Council of Ministers to furnish petroleum products which are in short supply. Article 49 also provides that the Spanish Council of Ministers may order the taking of various demand restraint measures, including the limitation of maximums speeds on public roads and the restriction of movement of specific types of vehicles.

Official source: https://www.boe.es/buscar/act.php?id=BOE-A-1998-23284#a98