To ask the Secretary of State for Business, Enterprise and Regulatory Reform what the size is of the UK's strategic oil reserves. (211095)

[holding answer 13 June 2008]: The UK does not have strategic oil reserves. As a member of the European Union and of the International Energy Agency, the UK is required to hold emergency oil stocks equivalent to 67.5 days' national consumption for release in the event of disruption of international supplies. It meets these obligations by directing oil companies to hold stocks under powers derived from section 6 of the Energy Act 1976.

At the end of March 2008 the following stocks were available to the United Kingdom:

These were equivalent to 78 days' national consumption.