Hungary's oil reserves over EU min.
Friday, August 26, 2005, 09:04
Hungary has oil reserves for about 98 - 99 days, with a net value of Ft 130 billion which exceeds the EU expectation of minimum 90 days, CEO of Association for Reserving Crude Oil and Oil Products (KKKSz) József Csernák said to daily Világgazdaság. The consumption of the reserves is strictly regulated; the decision belongs to the competences of the Economy and Transport Minister and EU consent is also required. Since the costs of storage are decreasing and the necessary investments have already been made, the fee of it may also be reduced in the future. This is built into gasoline price and is Ft 3 / liter now.