The Liquid Fuel Stocks Act (LFA) is the key piece of legislation in relation of oil stock release and other emergency measures for fuel oils. Using IEA methodology, Estonia held 306 days of oil stocks at the end of October 2015. Roughly 75% were held by the Estonian Oil Stockpiling Agency (OSPA) while the rest were held by industry. These were commercial stocks as Estonia does not place a stockholding obligation on industry.
Emergency measures available to the Estonian government in an oil supply disruption are limited to the release of stocks from its public stockholding agency. OSPA was established in 2005, and is tasked with establishing, maintaining and holding 90 days of compulsory oil stocks to fulfil Estonia's international obligations (it held about 229 days of stocks at the end of October 2015). It is a legal entity governed by private law, whose capital belongs entirely to the State. Shareholder's rights are exercised by the Ministry of Economic Affairs and Communications represented by the Minister of Economic Affairs and Communications. OSPA stockholding and administration costs are covered through a stockpiling fee paid directly to OSPA by oil companies. This fee is included in oil prices paid by consumers. The purchasing costs of oil are covered by the State budget by increasing the share capital of OSPA and by using funds received from the sale of oil stocks.