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France Counters Union Action with Strategic oil Reserves

Posted by May 25, 2016

France has started using its strategic oil reserves to counter union blockades of its refineries, the French oil industry federation said on Wednesday.

"Yes, a small quantity of the stock has been drawn. It was authorised by the government, only the government can authorise it," UFIP spokeswoman Catherine Enck said.

Union Francaise des Industries Petrolieres (UFIP) President Francis Duseux told RMC radio that the industry had been using the strategic reserves for two days.

"Every day we use the equivalent of about one day of consumption. At worst, if the situation remains very tense, we can do this for three months," he said. (Reporting by Bate Felix and Geert De Clercq

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