L 217/8 Official Journal of the European Union 8.8.2006 COUNCIL DIRECTIVE 2006/67[EC of 24 July 2006 imposing an obligation on Member States to maintain minimum stocks of crude oil and/or petroleum products (Codified version) (Text with EEA relevance) THE COUNCIL OF THE EUROPEAN UNION, Having regard to the Treaty establishing the European Community, and in particular Article 100 thereof, Having regard to the proposal from the Commission, Having regard to the opinion of the European Parliament (%), Having regard to the opinion of the European Economic and Social Committee (%), Whereas: () Council Directive 68/414/EEC of 20 December 1968 imposing an obligation on Member States of the EEC to maintain minimum stocks of crude oil andfor petroleum products () has been substantially amended several times (¥). In the interests of clarity and rationality the said Directive should be codified. Imported crude oil and petroleum products are of importance in providing the Community with supplies of energy. Any difficulty, even temporary, having the effect of reducing supplies of such products imported from third States, or significantly increasing the price thereof on international markets, could cause serious disturbances in the economic activity of the Community. The Community must therefore be in a position to offset or at least to diminish any harmful effects in such a case. A crisis in obtaining supplies could occur unexpectedly and it is therefore essential to establish forthwith the necessary means to make good a possible shortage. C 226 E, 15.9.2005, p. 44. C 112, 30.4.2004, p. 39. L 308, 23.12.1968, p. 14. Directive as last amended by Directive 98/93/EC (O] L 358, 31.12.1998, p. 100). See Annex I, Part A. (4) (10) To this end, it is necessary to increase the security of supply for crude oil and petroleum products in Member States by establishing and maintaining minimum stocks of the most important petroleum products. It is necessary that the organisational arrangements for oil stocks do not prejudice the smooth running of the internal market. In Directive 73/238/EEC (°) the Council decided upon appropriate measures — including drawing on oil stocks — to be taken in the event of difficulties in the supply of crude oil and petroleum products to the Community; Member States have undertaken similar obligations in the Agreement on an ‘International Energy Programme’. It is necessary that stocks be at the disposal of Member States should difficulties in oil supply arise. Member States should possess the powers and the capacity to control the use of stocks so that they can be made available promptly for the benefit of the areas which most need oil supplies. Organisational arrangements for the maintenance of stocks should ensure the stocks' availability and their accessibility to the consumer. It is appropriate that organisational arrangements for the maintenance of stocks are transparent, ensuring a fair and non-discriminatory sharing of the burden of the stock-holding obligation. Therefore, information relating to the cost of holding oil stocks may be made available by Member States to interested parties. In order to organise the maintenance of stocks, Member States may have recourse to a system based on a stock- holding body or entity which will hold all, or part, of the stocks making up their stock-holding obligation. The balance, if any, should be maintained by refiners and other market operators. Partnership between the Government and the industry is essential to operate efficient and reliable stock-holding mechanisms. () O] L 228, 16.8.1973, p. 1.