As Member state of the European Union, the International Energy Agency (IEA) and the Organisation for Economic co-operation and Development (OECD) Belgium needs to manage a strategic oil stock.
APETRA manages these strategic stocks in the form of crude oil and finished oil products in property and reservations on stocks held by the oil industry.
In case of international or national supply problems APETRA will inject these stocks, upon demand from the Minister of Energy, as high as possible in the distribution chain. A supply crisis must be recognized as such by the Govering Board of the IEA, the Co-ordination group of the European Council or the national Council of Ministers.
Through the traditional distribution channels these stocks will guarantee the supply of the end consumer. APETRA's stocks are located in Belgium and the surrounding countries and are sold, in crisis, at the reigning market price. The legal framework for the Belgian oil crisis policy is established by the Law of 20th July 2006 (click here for the French text).