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European Commission: Oil Supplies Stable, but Jet Fuel Availability a Concern
🇬🇷 Greece /Economy & Trade

European Commission: Oil Supplies Stable, but Jet Fuel Availability a Concern

From Ta Nea · (2d ago) Greek Mixed tone

Translated from Greek, summarized and contextualized by DistantNews.

TLDR

  • The European Commission has stated that oil supplies in the EU are stable, but expressed concern over the availability of jet fuel.
  • An EC spokesperson confirmed that current crude oil supplies to refineries are steady, alleviating immediate concerns about fuel shortages.
  • The primary worry is the supply of aviation fuel, as EU refineries meet only about 70% of demand, relying on imports for the remainder.

Brussels has moved to quell fears of an imminent fuel crisis across the European Union, asserting that overall oil supplies remain robust. However, the European Commission has pinpointed a specific area of concern: the availability of jet fuel, signaling a potential challenge for the aviation sector in the near future.

προς το παρόν δεν υπάρχουν ενδείξεις για έλλειψη καυσίμων στην Ευρωπαϊκή Ένωση

— Ana-Kaisa ItkonenReassuring statement regarding the current lack of indications for fuel shortages in the EU.

Answering queries fueled by industry reports and letters from aviation stakeholders, the Commission's energy spokesperson, Ana-Kaisa Itkonen, clarified that there are currently no indications of a widespread fuel shortage within the EU. She affirmed that the bloc's energy coordination group, in a recent meeting, confirmed stable crude oil supplies to EU refineries, negating the need for immediate release of strategic reserves.

ενδέχεται να προκύψουν προβλήματα εφοδιασμού στο εγγύς μέλλον, ιδίως όσον αφορά τα καύσιμα αεροσκαφών

— Ana-Kaisa ItkonenWarning about potential future supply problems, particularly concerning aviation fuel.

Despite the reassuring news on general oil supplies, Itkonen emphasized that the situation concerning aviation fuel is the Commission's main preoccupation. She explained that while EU refineries cover approximately 70% of the demand for jet fuel, the remaining 30% is dependent on imports. This reliance on external sources makes the aviation fuel market particularly vulnerable to supply chain disruptions.

οι προμήθειες αργού πετρελαίου στα διυλιστήρια της ΕΕ παραμένουν σταθερές και δεν υπάρχει ανάγκη για αποδέσμευση επιπλέον αποθεμάτων επί του παρόντος

— Ana-Kaisa ItkonenConfirmation from the EU energy coordination group about stable crude oil supplies to refineries.

In response to these potential vulnerabilities, the European Commission has intensified its coordination efforts with member states and the industry. Weekly meetings of the oil and gas coordination groups are being held to ensure a real-time understanding of reserves, refining capacity, and alternative import routes. Itkonen stressed the critical importance of close monitoring and full situational awareness to enable the Commission to propose or take necessary measures should the need arise. The upcoming package of measures to address the energy crisis, expected next week, is described as a 'holistic' approach, though further details remain undisclosed.

η κατάσταση στα καύσιμα αεροσκαφών παραμένει η κύρια ανησυχία μας αυτή τη στιγμή

— Ana-Kaisa ItkonenHighlighting aviation fuel as the primary current concern for the Commission.
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Originally published by Ta Nea in Greek. Translated, summarized, and contextualized by our editorial team with added local perspective. Read our editorial standards.

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