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Oil and Gas Emergency Policy: Italy 2010 update
Oil and Gas Emergency Policy: Italy 2010 update In 2007, the IEA published Oil Supply Security: Emergency Response of IEA Countries 2007. This report provided an overview of the IEA oil emergency response system and a detailed look at the specific systems in each IEA country for responding to an oil supply crisis. The report represented the findings of a five-year review cycle of the emergency response mechanisms in IEA member countries. Since the 2007 publication, the IEA has started a new cycle of reviews which now includes reviewing gas emergency policies. Rather than waiting for the completion of…
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Italy's legislation on oil security
Introduction Italy’s oil supply emergency regime is primarily governed by the provisions of the 2012 Legislative Decree on Minimum Stocks of Crude Oil (249/2012) (DMS) which implements EU Directive 2009/119/EC. Relevant domestic legislation Related domestic legislation Relevant European Union legislation Other related links Circumstances triggering the operation of the national emergency response system The provisions of the DMS are triggered by a major supply disruption (article 20(1) DMS). A major supply disruption exists when there is a ‘substantial and sudden drop’ in the ‘supply of crude oil or petroleum products to the European Union (EU…
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Oil and Gas Emergency Policy: China 2012 update
…a net oil importer since 1993. More than 50% of the total crude oil imports came from counties of the Middle East. To prevent a potential shock to the economy caused by an oil supply disruption, the Chinese government has been steadily pushing to build an oil stock reserve system. China has completed four stockpiling facilities. Regarding natural gas, a strong policy push has boosted natural gas supplies, particularly to residential customers, so that its share doubled in 2009; in 2010, domestic supplies met 90% of domestic consumption. The key elements of China’s approach to gas security are to…
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Energy Policies of IEA Countries: Italy 2003
…are now operational. Italy ratified the Kyoto Protocol in June 2002 and launched a national strategy to mitigate climate change in December 2002.
But Italy also faces some challenges. High reliance on imported oil and gas raises concerns about security of supply. Energy diversification is restricted since there are few options available apart from natural gas, given the limitations of renewable energy as a source of supply. Timely investments in energy production, transportation and interconnection are crucial for security of supply, but they often meet strong local resistance under the devolution of powers to local authorities. In spite of the… -
Italy Oil Security Policy
Country Energy Security Policy - Oil Oil overview Oil consumption declined considerably from 2007-2014, but then remained relatively stable from 2015-2019. It rebounded strongly in 2021 to pre-pandemic levels after falling sharply in 2020. In the short-term, there is little to suggest that oil demand will decline significantly. However, in the medium to long-term, the government expects a major reduction in oil demand, largely as a result of greater use of electric vehicles and alternative fuels in the transportation sector. Italy has a large refining industry and is a significant net exporter of oil products. However…
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Energy Policies of IEA Countries: Italy 1999
…to regions and local authorities. Thus, co-ordination across regions and with the national government is becoming an important issue. In February 1999, competition was introduced in the electricity sector. The Government is also preparing a Legislative Decree to implement the EU Directive on natural gas. In enforcing competition, attention needs to be given to the dominant position of national companies in the electricity, natural gas and oil sectors. Italy has high taxes on energy in comparison with other IEA countries. This has encouraged the country’s low energy intensity. In addition, in December 1998, the Government introduced a CO2…
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Oil Market Report - October 2024
…bbl. Oil security in focus Benchmark oil prices bounced sharply higher in early October, as potential oil supply risks once again took centre stage. Escalating tensions between Israel and Iran are fuelling fears of a broader Middle East conflict and disruptions to Iranian exports. Nevertheless, the resolution of a political dispute in Libya that briefly cut its oil exports in half, relatively modest production losses due to major hurricanes sweeping the US Gulf Coast and weak end-user demand have helped to steady markets. At the time of writing, Brent crude oil futures were trading at around $78/bbl, up…
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Energy Policies of IEA Countries: Italy 2009
Energy Policy Review Energy Policies of IEA Countries: Italy 2009 This review analyses the energy challenges facing Italy and provides sectoral critiques and recommendations for further policy improvements. The Italian government has made substantial progress in a number of sectors since the last IEA in-depth energy policy review in 2003. The success of the green certificate and white certificate schemes and continued reform of the electricity and natural gas supply markets are just a few examples and build on the recommendations contained in the previous review. Nonetheless, many challenges remain. Italy recognises the need to diversify its energy supply…
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Oil Market Report - May 2017
…refinery closures in the Middle East, underperformance in Latin America and flat growth in India are not offset by growth in China and Russia. Highlights Weakness in a number of previously solid countries - India, US, Germany and Turkey - curtailed the 1H17 global demand growth estimate by 115 kb/d. Global demand growth is, however, still forecast at 1.3 mb/d in 2017, with demand at 97.9 mb/d.Global oil supply fell by 140 kb/d in April as non-OPEC, and especially Canada, pumped less. At 96.17 mb/d, output stood 90 kb/d below a year ago, even as non-OPEC returned…
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China's Worldwide Quest for Energy Security
…their domestic resources; but growth eventually overwhelmed them and led to rising oil imports. Within the next decade, China’s oil imports are expected to grow rapidly and outstrip those of many OECD countries. Gas imports are also projected to increase as China switches to cleaner energy. Aware of its growing dependency on imported energy, China seeks a more prominent position in the existing global system of energy production and trade. Where it can, China seeks to open new connections in global markets. Increasingly, external energy policies are entwined in foreign economic and security policies in general. This book documents…