Act No. XXIII of 2013 on Minimum Stocks of Imported Crude Oil and Petroleum Products

Hungary’s response to oil supply disruptions is primarily governed by the provisions of the Act No. XXIII of 2013 on Security Stockpiles of Imported Crude Oil and Petroleum Products that repealed and replaced Act No. XLIX of 1993 on the Security Stockpiles of Imported Crude Oil and Petroleum Products, which aims to implement relevant European Union legislation governing emergency oil stocks.The Hungarian Hydrocarbon Stockpiling Association is the central stockpiling organisation. Importers can subscribe to this association and also contribute to the association's oilstockpiling mandate. The Minister for National Development also has the power to decree demand restraint measures to restrict consumption. 

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