Section 32

The following method shall be used to calculate stock levels:

1. Without prejudice to the case whereby any oil stocks may be included simultaneously in both the calculation of emergency stocks and the calculation of specific stocks provided these stocks satisfy all the requisite conditions, no quantity may be counted as stock more than once. Crude oil stocks are reduced by 4 %, which corresponds to the average naphtha yield.

2. Stocks of naphtha and petroleum products for international marine bunkers within the meaning given by Section 2.1 of Annex A to Regulation (EC) No. 1099/2008 are not included.

3. Other petroleum products are included in the stock count using one of the two methods outlined at subparagraphs (a) and (b) of paragraph 5.

4. The method chosen will continue to be used throughout the whole calendar year in question.

5. The calculation may include—

F184[(a) all other stocks of the petroleum products identified in Chapter 3.4 of Annex A to Regulation (EC) No. 1099/2008 and calculate the crude oil equivalent by multiplying the quantities by a factor of 1.065, or]

(b) stocks of only the following products: motor gasoline, aviation gasoline, gasoline-type jet fuel (naphtha-type jet fuel or JP4), kerosene-type jet fuel, other kerosene, gas/diesel oil (distillate fuel oil) and fuel oil (high sulphur content and low sulphur content) and calculate the crude oil equivalent by multiplying the quantities by a factor of 1.2.

6. The calculation may include quantities held:

(a) in refinery tanks,

(b) in bulk terminals,

(c) in pipeline tankage,

(d) in barges,

(e) in intercoastal tankers,

(f) in inland ship bunkers,

(g) in storage tank bottoms,

(h) as working stocks,

(i) by large consumers as required by law or otherwise controlled by a Member State.

7. However, those quantities except for any held in refinery tanks, in pipeline tankage or in bulk terminals, will not be included when calculating levels of specific stocks where such stocks are calculated separately from emergency stocks.

8. The calculation will not include:

(a) crude oil not yet produced;

(b) quantities held:

(i) in pipelines,

(ii) in rail tank cars,

(iii) in seagoing ships’ bunkers,

(iv) in service stations and retail stores,

(v) by other consumers,

(vi) in tankers at sea,

(vii) as military stocks.

9. When calculating stocks, the quantities of stocks calculated as set out above will be reduced by 10 %. That reduction applies to all quantities included in a given calculation.

10. The 10% reduction under paragraph 9 shall not be applied when calculating the level of specific stocks or the levels of the different categories of specific stocks where those stocks or categories are considered separately from the emergency stocks, particularly with a view to verifying compliance with the minimum levels laid down for specific stocks.]