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Portugal crude oil storage expansion

Updated 3 times since CLSTR started tracking revisions of this situation.

What changed

2026-09-25 21:24 UTC → 2026-09-26 08:43 UTC · added removed

The Portuguese government has announced a 60 million euro public investment to expand national crude oil storage capacity. This initiative is intended to repatriate approximately 132,000 tonnes of strategic oil reserves that are currently stored in France. a salt cavern in Manosque, France, under a ten-year contract with Géosel. This amount represents less than a tenth of the nation’s total reserves. Minister of Environment and Energy Maria da Graça Carvalho stated that the reliance on French storage resulted from a lack of domestic capacity following the 2021 closure of the Matosinhos refinery by Galp, which reduced the country’s crude and fuel storage capacity by one-third. Following this closure, Galp informed While the National Energy Sector Entity (ENSE) that it could no longer maintain its storage contract, necessitating state maintains 92 days of liquid fuel reserves—remaining above the transfer 90-day reference level—it has been noted that nearly 40% of state-owned crude to a facility the state’s total strategic reserves are held outside the country, including reserve ‘tickets’ in Manosque, France. the Netherlands and Italy. While the new infrastructure is expected to take four to five years to complete, the minister noted that the state maintains 92 days of liquid fuel reserves, which remains above the 90-day reference level. She emphasized that while storing reserves in France is a “common European practice” and does not compromise energy security, having security. However, the reserves physically within national territory is preferable. The project has faced faces political scrutiny. The scrutiny from the Socialist Party (PS) has questioned the necessity and cost of moving reserves abroad, while the Portuguese Communist Party (PCP) has demanded further clarification regarding the costs of the transfer and the long-term financial implications for implications. Additionally, the state. country’s remaining refinery in Sines is scheduled for a partial shutdown during October.

Versions

  1. 2026-09-26 08:43 UTC Portugal crude oil storage expansion
  2. 2026-09-25 21:24 UTC Portugal crude oil storage expansion
  3. 2026-09-25 09:09 UTC Portugal crude oil storage expansion
  4. 2026-09-24 17:32 UTC Portugal crude oil storage expansion

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