As a net oil exporter, Norway does not have an IEA emergency reserve commitment.
In January 2007, Norway introduced legislation that imposed an obligation on companies to hold stocks of products equivalent to 20 days of their sales or imports in the domestic market.
The stockholding legislation covers only petroleum products; however, in wartime, the government can take control of all crude oil stocks, as well as all industry-held product stocks.
The compulsory stocks are co-mingled with commercial stocks. There are no restrictions on location of stocks outside of Norway. At present, Norway has no bilateral stockholding arrangements with other countries.
Related news & events
- Norway contributes to global energy security, while seeking to decarbonise its energy supply
30 May 2017
- IEA Executive Director meets with Norwegian Prime Minister
23 November 2015
- Energy ministers set course for new era at IEA
18 November 2015
- First IEA regional technology study plots carbon-neutral Nordic energy
22 January 2013