5th Petroleum Stockpiling Plan

The 5th Petroleum Stockpiling Plan updates Korea’s strategic petroleum reserve framework to strengthen oil supply security and emergency response capacity. The plan is intended to manage public and industry-held petroleum stocks, storage infrastructure, release procedures and coordination among government, KNOC and private oil companies in the event of import disruption or severe price volatility. It should be understood as an oil emergency preparedness instrument rather than a demand-side fuel policy. If the original plan text becomes available, the reserve target, stockholding days and storage-capacity figures should be added.

Want to know more about this policy ? Learn more