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Thursday, February 09, 2006

Portuguese petrol in German hands

The Minister of foreign affairs, Freitas do Amaral has sighed in Berlim an agreement that hands over Portugal’s petrol reserves to be stored in German territory.
This agreement will give over a significant portion of Portugal’s petrol reserves, that it is obligated to main according to EU regulations, to be stored in Germany. For the stability of the energetic market there is a minimum of reserves that each country is required to maintain according to directives from the European Union and the International Energy Agency. The main reason for this accord was the fact that Portugal does not possess storage capabilities for it to maintain the reserves in national territory.

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