The Netherlands Petroleum Stockpiling Agency (COVA) is the independent national organization which is responsible for the strategic oil stocks of the Netherlands. The aim of COVA is to fulfil, on behalf and by mandate of the Minister of Economic Affairs, the purchase, sale and storage of crude oil and oil products based on the requirements set by the International Energy Agency (IEA) and the European Union (EU).
The most recent version of the General Terms and Conditions for the purchase of crude oil and oil products are available here.
The most recent version of the General Terms and Conditions for the sale of crude oil and oil products are available here.
COVA Operations Department is in charge of the contracting of suitable storage locations at the lowest possible cost for the emergency oil stocks.
COVA depends on the stockholding levy which has been defined at 8.00 Euro / m³ in the 2012 Stockpiling Act and can be amended by Order in Council.
The 1973 oil crisis came to its peak on October 17, 1973 when all members of the Organization of Arab Petroleum Exporting Countries
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