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Minimum stocks of crude oil and/or petroleum products * European Parliament legislative resolution of 22 April 2009 on the proposal for a Council directive imposing an obligation on Member States to maintain minimum stocks of crude oil and/or petroleum products (COM(2008)0775 – C6-0511/2008 – 2008/0220(CNS))

OJ C 184E, 8.7.2010, pp. 162–173 (BG, ES, CS, DA, DE, ET, EL, EN, FR, IT, LV, LT, HU, MT, NL, PL, PT, RO, SK, SL, FI, SV)

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Official Journal

8.7.2010

Official Journal of the European Union

CE 184/162

Wednesday 22 April 2009
Minimum stocks of crude oil and/or petroleum products *

P6_TA(2009)0226

European Parliament legislative resolution of 22 April 2009 on the proposal for a Council directive imposing an obligation on Member States to maintain minimum stocks of crude oil and/or petroleum products (COM(2008)0775 – C6-0511/2008 – 2008/0220(CNS))

2010/C 184 E/40

(Consultation procedure)

The European Parliament,

having regard to the Commission proposal to the Council (COM(2008)0775),

having regard to Article 100 of the EC Treaty, pursuant to which the Council consulted Parliament (C6-0511/2008),

having regard to Rule 51 of its Rules of Procedure,

having regard to the report of the Committee on Industry, Research and Energy and the opinion of the Committee on Economic and Monetary Affairs (A6-0214/2009),

1.	Approves the Commission proposal as amended;

2.	Calls on the Commission to alter its proposal accordingly, pursuant to Article 250(2) of the EC Treaty;

3.	Calls on the Council to notify Parliament if it intends to depart from the text approved by Parliament;

4.	Asks the Council to consult Parliament again if it intends to amend the Commission proposal substantially;

5.	Instructs its President to forward its position to the Council and Commission.

TEXT PROPOSED BY THE COMMISSION

AMENDMENT

Amendment 1

Proposal for a directive

Recital 1

(1)	The supply of crude oil and petroleum products to the Community remains very important, particularly for the transport sector and the chemicals industry .

(1)

The supply of crude oil and petroleum products to the Community remains very important, particularly for the transport sector and the chemicals and energy industries. Disruption to supplies of crude oil and petroleum products or insufficient stocks could result in major financial losses for enterprises and could paralyse other sectors of the economy and the daily life of citizens of the Union.

Amendment 2

Proposal for a directive

Recital 1 a (new)

(1a)	Crude oil remains and will remain for the coming decades one of the most important primary energy sources. At the same time, it will be increasingly challenging for Members States to ensure a constant supply of crude oil at a reasonable price.

Amendment 3

Proposal for a directive

Recital 2

(2)	The increasing concentration of production, dwindling oil reserves and growing worldwide consumption of petroleum products are all contributing to an increased risk of supply difficulties.

(2)	The increasing concentration of production, dwindling oil reserves and constantly growing worldwide consumption of petroleum products are all contributing to a seriously increased risk of supply difficulties.

Amendment 4

Proposal for a directive

Recital 2 a (new)

(2a)

Alongside measures to create a favourable climate of investment for the purpose of prospecting for, and tapping into, oil reserves inside and outside the European Union, which is vital to ensure long-term oil supplies, building up oil reserves is a proven means of compensating for short-term supply disruption.

Amendment 5

Proposal for a directive

Recital 2 b (new)

(2b)	The level of dependence of Member States on oil imports to meet their energy needs is extremely high.

Amendment 6

Proposal for a directive

Recital 4 a (new)

(4a)	The European Union is a global player and its policy for enhancing the security of energy supply should therefore form part of the policy objectives in its relations with candidate and neighbouring countries.

Amendment 7

Proposal for a directive

Recital 4 b (new)

(4b)	The Commission should ensure that the eight Member States that are not members of the International Energy Agency (IEA) (1) are involved on an equal footing as regards the decisions adopted and the measures taken by the European Union in consultation with the IEA.

Amendment 8

Proposal for a directive

Recital 5 a (new)

(5a)	The Commission should adequately represent and uphold the interests of the Member States that are not members of the IEA.

Amendment 9

Proposal for a directive

Recital 7

(7)

The Presidency Conclusions of the Brussels European Council of 8 and 9 March 2007 show that it is becoming increasingly vital and pressing for the Community to put in place an integrated energy policy, combining action at European and Member State level. It is therefore essential to ensure greater convergence between the stockholding mechanisms in place in the various Member States.

(7)

The Presidency Conclusions of the Brussels European Council of 8 and 9 March 2007 show that it is becoming increasingly vital and pressing for the Community to put in place an integrated energy policy, combining action at European and Member State level. It is therefore essential to ensure compatibility between the different stockholding mechanisms in place in the various Member States.

Amendment 10

Proposal for a directive

Recital 7 a (new)

(7a)

The Presidency Conclusions of the European Council of 15 and 16 October 2008 emphasise the Union’s desire to establish mechanisms for solidarity among Member States in the case of energy supply disruptions and suggests putting in place all necessary instruments for this purpose. An effective system for maintaining stocks of crude oil and/or petroleum products which is coordinated at Community level is also an important part of putting the principle of energy solidarity into practice.

Amendment 11

Proposal for a directive

Recital 8

(8)

The availability of oil stocks and the safeguarding of energy supply are essential elements of public security for Member States and for the Community. The existence of central stockholding entities or services in the Community brings those goals closer. Where oil stocks may be held in any location across the Community and by any central entity or service set up for that purpose, prohibiting their use for commercial purposes is sufficient to allow the various Member States concerned to make optimum use of national law to define the terms of reference for their central stockholding entities while easing the financial burden placed on final consumers as a result of such stockholding activities.

(8)

The availability of oil stocks and the safeguarding of energy supply are essential elements of public security for Member States and for the Community. The existence of central stockholding entities or services in the Community could contribute to achieving these goals in a cost-efficient way. Where oil stocks may be held in any location across the Community and by any central entity or service set up for that purpose, Member States should be able to make optimum use of national law to define the terms of reference for their central stockholding entities and the conditions on which they delegate the holding of stocks to other Member States or other stockholding entities, while easing the financial burden placed on final consumers as a result of such stockholding activities.

Amendment 12

Proposal for a directive

Recital 8 a (new)

(8a)	In order to ease the financial burden on end-users, Member States should provide for closer cooperation among central stockholding entities and for the setting up of regional stockholding entities.

Amendment 13

Proposal for a directive

Recital 9

(9)

Given the objectives of the Community legislation on oil stocks, possible security concerns which may be expressed by some Member States and the desire to make mechanisms for solidarity amongst Member States more rigorous and more transparent, central entities acting without an intermediary must be restricted to operating within national boundaries.

deleted

Amendment 14

Proposal for a directive

Recital 12

(12)

In view of what is required in connection with setting up emergency policies, convergence among national stockholding mechanisms and the need to ensure a better overview of stock levels, particularly in the event of a crisis, Member States and the Community must have the means for reinforced control of those stocks.

(12)

In view of what is required in connection with setting up emergency policies, ensuring compatibility between national stockholding mechanisms and the need to ensure a better overview of stock levels, particularly in the event of a crisis, Member States must have the means for reinforced control of those stocks.

Amendment 15

Proposal for a directive

Recital 12 a (new)

(12a)

While sufficient flexibility should be given to Member States to choose the stock holding arrangements which are most suited to their geographical and organisational characteristics, all necessary mechanisms should be put in place to enable the provision to the Commission at any time of accurate and reliable data about stock levels.

Amendment 16

Proposal for a directive

Recital 12 b (new)

(12b)

The role of the Member States in maintaining and managing mandatory oil stocks for emergency situations should be strengthened.

Amendment 17

Proposal for a directive

Recital 14

(14)

To help enhance security of supply in the Community, the stocks, known as ‘specific stocks’, purchased by the Member States or the central entities and constituted on the basis of decisions taken by the Member States should correspond to actual needs in the event of a crisis . They should also have separate legal status to ensure full availability should such a crisis occur. To that end, the Member States concerned should ensure that appropriate steps are taken to protect those stocks unconditionally against all enforcement measures.

(14)

To help enhance security of supply in the Community, the available stocks should, in accordance with this Directive, be sufficient to cover demand at least for the specified period . They should also have separate legal status to ensure full availability should such a crisis occur. To that end, the Member States concerned should ensure that appropriate steps are taken to protect those stocks unconditionally against all enforcement measures.

Amendment 18

Proposal for a directive

Recital 15

(15)	At this stage, the volumes to be owned by the central entities or the Member States should be set at a level determined independently and voluntarily by each of the Member States concerned.

(15)	At this stage, the volumes to be owned by the central entities or the Member States should be set at a level determined in advance, independently and voluntarily by each of the Member States concerned.

Amendment 19

Proposal for a directive

Recital 18

(18)

The frequency with which stock summaries are drawn up and the deadline for their submission, as laid down by Directive 2006/67/EC, seem to be out of step with the various oil stock systems that have been set up in other parts of the world. In a resolution on the macroeconomic impact of the increase in the price of energy, the European Parliament voiced its support for more frequent reporting. At the same time it is necessary to ensure that the data are accurate and do not require weekly or monthly correction, as is still frequently the case in the European Union.

Amendment 20

Proposal for a directive

Recital 21

(21)	With the same objectives in mind, the preparation and submission of statistical summaries should also be extended to stocks other than emergency stocks and specific stocks, with those summaries to be submitted on a weekly basis.

(21)

With the same objectives in mind, the preparation and submission of statistical summaries should also be extended to stocks other than emergency stocks and specific stocks, with those summaries to be submitted on a monthly basis. Taking into account the results of the feasibility study to be carried out on the effectiveness of weekly reporting on commercial oil stocks, the Commission should be empowered to require Member States to submit those summaries on a weekly basis, in so far as it can be guaranteed that only minimal adjustments will be necessary and that this offers distinct advantages in terms of market transparency.

Amendment 21

Proposal for a directive

Recital 23

(23)	As there may be errors or discrepancies in the summaries submitted to the Commission, the Commission’s employees or authorised agents should be able to verify the existence of the stocks and the documents used by the authorities of the Member States.

(23)

As there may be errors or discrepancies in the summaries submitted to the Commission, the Commission’s employees or authorised agents should, in the case of reasonable suspicion, be able, together with the designated Member State monitoring authorities, to verify the existence of the stocks and the documents used by the authorities of the Member States.

Amendment 22

Proposal for a directive

Recital 25

(25)

The protection of individuals with regard to the processing of personal data by the Member States is governed by Directive 95/46/EC of the European Parliament and of the Council of 24 October 1995 on the protection of individuals with regard to the processing of personal data and on the free movement of such data, while the protection of individuals with regard to the processing of personal data by the Commission is governed by Regulation (EC) No 45/2001 of the European Parliament and of the Council of 18 December 2000 on the protection of individuals with regard to the processing of personal data by the Community institutions and bodies and on the free movement of such data. In particular, those Acts require the processing of personal data to be justified by a legitimate purpose and stipulate that any personal data gathered accidentally must be deleted immediately.

(25)

The protection of individuals with regard to the processing of personal data by the Member States is governed by Directive 95/46/EC of the European Parliament and of the Council of 24 October 1995 on the protection of individuals with regard to the processing of personal data and on the free movement of such data, while the protection of individuals with regard to the processing of personal data by the Commission is governed by Regulation (EC) No 45/2001 of the European Parliament and of the Council of 18 December 2000 on the protection of individuals with regard to the processing of personal data by the Community institutions and bodies and on the free movement of such data. The provisions of this Directive should be without prejudice to the provisions of Directive 95/46/EC and Regulation (EC) No 45/2001.

Amendment 23

Proposal for a directive

Recital 29

(29)	Given that no compulsory standard minimum level has been set at Community level for specific stocks and in view of the number of new mechanisms set up by this Directive, its implementation should be reviewed relatively soon after its entry into force.

(29)

Given that no compulsory standard minimum level has been set at Community level for specific stocks and taking into account the current study on the costs and benefits of measures to increase transparency of the oil market, notably by weekly reporting commercial oil stocks, and in view of the number of new mechanisms set up by this Directive, its implementation should be reviewed at the latest within three years after its entry into force.

Amendment 24

Proposal for a directive

Article 2 – paragraph 1 – point e

(e)	‘effective international decision to release stocks’ means any current decision taken by the Governing Board of the International Energy Agency to release a Member State’s stocks of oil or petroleum products;

(e)	‘effective international decision to release stocks’ means any current decision taken by the Governing Board of the IEA to release an IEA member country’s stocks of oil or petroleum products;

Amendment 25

Proposal for a directive

Article 2 – subparagraph 1 – point l a (new)

(la)	‘emergency situations’ mean circumstances in which there is significant disruption to supplies of crude oil or petroleum products;

Amendment 26

Proposal for a directive

Article 3 – paragraph 4

4. The methods and procedures for calculating stockholding obligations, as referred to in this Article, may be amended in accordance with the regulatory procedure referred to in Article 24(2).

4. The methods and procedures for calculating stockholding obligations, as referred to in this Article, may be amended in accordance with the regulatory procedure referred to in Article 24(2) and after consulting experts and stakeholders .

Amendment 27

Proposal for a directive

Article 4 – paragraph 3

3. The methods and procedures for calculating stock levels, as referred to in paragraphs 1 and 2, may be amended in accordance with the regulatory procedure referred to in Article 24(2).

3. The methods and procedures for calculating stock levels, as referred to in paragraphs 1 and 2, may be amended in accordance with the regulatory procedure referred to in Article 24(2) and after consulting experts and stakeholders .

Amendment 28

Proposal for a directive

Article 5 – paragraph 1 – subparagraph 1

1. Member States shall ensure that emergency stocks and specific stocks, within the meaning of Article 9, which are held within their national territory are physically accessible and available at all times. They shall establish arrangements for the identification, accounting and control of those stocks so as to allow them to be verified at any time. For emergency stocks and specific stocks that form part of or are commingled with stocks held by economic operators, separate accounts must be kept.

1. Member States shall ensure that emergency stocks and specific stocks, within the meaning of Article 9, which are held within their national territory are physically accessible and available at all times. They shall establish arrangements for the identification, accounting and control of those stocks so as to allow them to be verified at any time. Those arrangements shall be established with the prior agreement of the Commission. For emergency stocks and specific stocks that form part of or are commingled with, stocks held by economic operators, separate accounts must be kept.

Amendment 29

Proposal for a directive

Article 6 – paragraph 1 – subparagraph 1

1. Each Member State shall keep and continually update a detailed register of all emergency stocks held for its benefit which do not constitute specific stocks within the meaning of Article 9. That register shall contain, in particular, all the information needed to pinpoint the exact location of the stocks in question and to determine the quantities involved, the owner of the stocks and their exact nature, with reference to the categories identified in the first paragraph of Section 3.1 of Annex C to Regulation (EC) No ****** of the European Parliament and of the Council of *********** on energy statistics.

1. Each Member State shall keep and continually update a detailed register of all emergency stocks held for its benefit which do not constitute specific stocks within the meaning of Article 9. That register shall contain, in particular, information concerning the depot, refinery or storage facility where the stocks in question are located and the quantities involved, the owner of the stocks and their exact nature, with reference to the categories identified in the first paragraph of Section 3.1 of Annex C to Regulation (EC) No 1099/2008 of the European Parliament and of the Council of 22 October 2008 on energy statistics (2) .

Amendment 30

Proposal for a directive

Article 6 – paragraph 1 – subparagraph 2

Within 30 days of the end of each calendar year, Member States shall send the Commission a copy of the stock register showing the stocks existing on the last day of the calendar year in question.

Within 45 days of the end of each calendar year, Member States shall send the Commission a copy of the stock register showing the stocks existing on the last day of the calendar year in question.

Amendment 31

Proposal for a directive

Article 6 – paragraph 1 – subparagraph 3 a (new)

The Commission shall ensure the confidentiality of the individual data contained in the registers.

Amendment 32

Proposal for a directive

Article 7 – paragraph 3 – subparagraph 2 a (new)

In the event that an agreement delegates these obligations to the Member State within whose territory those stocks are located or to the central stockholding entity set up by that Member State, this agreement shall contain provisions, which set out:

(a)	the responsibility of the Member State or the central stockholding entity to ensure accurate data on the level of stocks at any time;

(b)	the timeframe for delivering these emergency stocks acquired, constituted, maintained or managed on its territory to the Member State, which has delegated these tasks;

(c)	effective, proportionate and dissuasive penalties, in case the Member State or central stock holding entity does not fulfil the conditions laid down in the agreement.

Amendment 33

Proposal for a directive

Article 7 – paragraph 4 – point b

(b)	publish, at least six months in advance, the conditions subject to which it offers these services to economic operators.

(b)	publish, at least three months in advance, the conditions subject to which it offers these services to economic operators.

Amendment 34

Proposal for a directive

Article 8 – paragraph 1 – subparagraph 1 – point b

(b)	to one or more other central stockholding entities capable of maintaining such stocks, or

(b)	to one or more other central stockholding entities capable of maintaining such stocks, provided that an agreement is concluded between the Member State concerned and the Member States which will hold the stocks , or

Amendment 35

Proposal for a directive

Article 9 – paragraph 1 – subparagraph 1

1. Each Member State may irrevocably undertake to maintain a minimum level of oil stocks, calculated in terms of number of days of consumption, in accordance with the conditions set out in this Article (hereinafter ‘specific stocks’).

1. Each Member State may undertake to maintain a minimum level of oil stocks, calculated in terms of number of days of consumption, in accordance with the conditions set out in this Article (hereinafter ‘specific stocks’).

Amendment 36

Proposal for a directive

Article 9 – paragraph 3 – introductory part

3. Specific stocks cover only the following product categories, as defined in Section 4 of Annex B to Regulation (EC) No ******* of the European Parliament and of the Council of ******* on energy statistics :

3. Specific stocks may cover only the following product categories, which have to comply with Community legislation, in particular concerning fuel standards and environmental protection, as defined in Section 4 of Annex B to Regulation (EC) No 1099/2008 :

Amendment 37

Proposal for a directive

Article 9 – paragraph 5 – subparagraph 1

5. Each Member State that has decided to maintain specific stocks shall send the Commission notification, to be published in the Official Journal of the European Union, specifying the level of the specific stocks that it has irrevocably undertaken to maintain permanently for each category. There shall be no compulsory minimum level other than the one thus notified, and it shall be applied in the same way for all categories of specific stocks used by the Member State.

5. Each Member State that has decided to maintain specific stocks shall send the Commission notification, to be published in the Official Journal of the European Union, specifying the level of the specific stocks that it has undertaken to maintain permanently for each category and the period for which it makes the commitment . There shall be no compulsory minimum level other than the one thus notified, and it shall be applied in the same way for all categories of specific stocks used by the Member State.

Amendment 38

Proposal for a directive

Article 10 – paragraph 1 – subparagraph 1

1. Each Member State shall keep and continually update a detailed register of all specific stocks held within its national territory. That register shall contain, in particular, all information needed to pinpoint the exact location of the stocks in question.

1. Each Member State shall keep and on a monthly basis continually update a detailed register of all specific stocks held within its national territory. That register shall contain, in particular, information concerning the depot, refinery or storage facility where the stocks in question are located .

Amendment 39

Proposal for a directive

Article 10 – paragraph 1 – subparagraph 2

Member States shall also send the Commission a copy of the register within eight days of a request by the Commission. Such requests may be made no later than 10 years after the date to which the requested data relate.

Member States shall also send the Commission a copy of the register within 10 working days of a request by the Commission. Such requests may be made no later than three years after the date to which the requested data relate.

Amendment 40

Proposal for a directive

Article 11 – paragraph 1 a (new)

Any agreement between Member States and a central stockholding entity shall contain provisions, which set out:

(a)	the responsibility of the Member State or the central stockholding entity to ensure accurate data on the level of stocks at any time;

(b)	the timeframe for delivering these emergency stocks acquired, constituted, maintained or managed on its territory to the Member State, which has delegated these tasks;

(c)	effective, proportionate and dissuasive penalties, in case the Member State or central stock holding entity does not fulfil the conditions laid down in the agreement.

Amendment 41

Proposal for a directive

Article 15

1. Member States shall send the Commission a weekly statistical summary of the levels of commercial stocks held within their national territory. When doing so, they shall ensure that sensitive data are protected and shall abstain from mentioning the names of the owners of the stocks concerned.

1. Member States shall send the Commission a monthly statistical summary of the levels of commercial stocks held within their national territory. When doing so, they shall ensure that sensitive data are protected and shall abstain from mentioning the names of the owners of the stocks concerned.

2. Using aggregate levels, the Commission shall publish a weekly statistical summary of the commercial stocks in the Community on the basis of the summaries submitted by the Member States.

2. Using aggregate levels, the Commission shall publish a monthly statistical summary of the commercial stocks in the Community on the basis of the summaries submitted by the Member States.

3. The Commission shall establish rules for the implementation of paragraphs 1 and 2 in accordance with the regulatory procedure referred to in Article 24(2).

3a. The Commission may, following its review under Article 23, require Member States to send a weekly (as opposed to monthly) statistical summary of the levels of commercial oil stocks, if a thorough examination of the feasibility and effectiveness of weekly statistical summaries shows that they offer distinct advantages in terms of market transparency and that no major subsequent corrections are routinely necessary to the data obtained for such summaries.

Amendment 42

Proposal for a directive

Article 19 – paragraph 1

1. The Commission may at any time decide to carry out checks on emergency stocks and specific stocks in the Member States. The Commission may ask the Coordination Group for advice when preparing those checks.

1. The Commission may, if there are reasonable grounds for suspicion, decide to carry out checks on emergency stocks and specific stocks in the Member States. The Commission may ask the Coordination Group for advice when preparing those checks.

Amendment 43

Proposal for a directive

Article 19 – paragraph 2

2. The objectives of the checks referred to in paragraph 1 may not include gathering personal data. Any personal data found or uncovered during those checks may not be gathered or taken into consideration and, if gathered accidentally, shall be destroyed immediately.

2. The objectives of the checks referred to in paragraph 1 may not include the processing of personal data. Any personal data found or uncovered during those checks may not be gathered or taken into consideration and, if gathered accidentally, shall be destroyed immediately.

Amendment 44

Proposal for a directive

Article 19 – paragraph 4

4. Member States shall ensure that, when the checks referred to in paragraph 1 are being carried out, those responsible for maintaining and managing emergency stocks and specific stocks within their national territory cooperate with the Commission’s employees or authorised agents.

Amendment 45

Proposal for a directive

Article 19 – paragraph 7

7. Member States shall take the necessary measures to ensure that all data, records, summaries and documents relating to emergency stocks and specific stocks are kept for a period of at least 10 years.

Amendment 46

Proposal for a directive

Article 21 – paragraphs 3 and 4

3. In the event of an effective international decision to release stocks, the Member States concerned may use their emergency stocks and specific stocks to fulfil their international obligations under that decision. Any Member State so doing shall notify the Commission immediately, so that the Commission can call a meeting of the Coordination Group or consult its members by electronic means to assess, in particular, the impact of that release.

3. The Commission shall work in close cooperation with other international organisations having the power to take a decision to release stocks and shall strengthen multilateral and bilateral coordination on these matters worldwide. In the event of an effective international decision to release stocks, the Member States concerned may use their emergency stocks and specific stocks to fulfil their international obligations under that decision. Any Member State so doing shall notify the Commission immediately, so that the Commission can call a meeting of the Coordination Group or consult its members by electronic means to assess, in particular, the impact of that release.

4. In the event of difficulties arising in the supply of crude oil or petroleum products to the Community or to a Member State, the Commission shall call a meeting of the Coordination Group as soon as possible, either at the request of a Member State or on its own initiative. Every Member State shall ensure that it can be represented, in person or by electronic means, at a meeting of the Coordination Group within 24 hours following the call for a meeting. The Coordination Group shall examine the situation based on the commitment to the principle of solidarity among Member States and on an objective assessment of the economic and social impact , and the Commission shall determine based on the assessment by the Coordination Group, whether a major supply disruption has occurred.

If a major supply disruption is deemed to have occurred, the Commission may authorise the release of some or all of the quantities put forward for that purpose by the Member States concerned.

Amendment 47

Proposal for a directive

Article 23

Within three years of the entry into force of this Directive, the Commission shall review its implementation, looking in particular at whether it would be appropriate to require all Member States to hold a compulsory minimum level of specific stocks.

Within, at the latest, three years of the entry into force of this Directive, the Commission shall review its implementation, looking in particular at:

(a)	whether data on stocks are accurate and transmitted on time;

(b)	whether the levels of commercial oil stocks shall be reported on a weekly or on a monthly basis;

(c)	whether it would be appropriate to require all Member States to hold a compulsory minimum level of specific stocks covering a longer period of time .

Amendment 48

Proposal for a directive

Article 26 – paragraph 1 – subparagraph 1

1. Member States shall bring into force the laws, regulations and administrative provisions necessary to comply with this Directive by 31 December 20XX at the latest. They shall forthwith communicate to the Commission the text of those provisions and a table of correlation between those provisions and this Directive.

1. Member States shall bring into force the laws, regulations and administrative provisions necessary to comply with this Directive by 31 December 20XX at the latest with the exception of those Member States for which a transitional period applies for the constitution of reserves of petroleum or petroleum products under the treaty of accession to the European Union for which the deadline for implementation is the date on which the transitional period ends . They shall forthwith communicate to the Commission the text of those provisions and a table of correlation between those provisions and this Directive.

Amendment 49

Proposal for a directive

Annex III – paragraph 11

When calculating their stocks, Member States must reduce the quantities of stocks calculated as set out above by 10 % . That reduction applies to all quantities included in a given calculation.

When calculating their stocks, Member States must reduce the quantities of stocks calculated as set out above by 5 % . That reduction applies to all quantities included in a given calculation.

(1) Bulgaria, Cyprus, Estonia, Latvia, Lithuania, Malta, Romania and Slovenia.

(2) OJ L 304, 14.11.2008, p. 1.

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