Section 5 Oil Stockholding Act 2012 requires oil importers to hold compulsory emergency reserves (CERs) equal to 25% of their net imports in the preceding calendar year during each stockholding year commencing on July 1.

First-time importers are subject to section 12 Oil Stockholding Act 2012. The starting date and duration of the importing activity, and the quantity of the imports can have a significant influence on stockholding obligations.

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