The Government has authorised the release of up to 11.5 million barrels of oil, which represents 12.3 days of consumption in the country, to mitigate the effects of the war in Iran and the closure of the Strait of Hormuz. Vice President Sara Aagesen explained that the release will take place in several stages. In the first phase, the reserves of the industry will be used, as operators can transfer them to the final consumer. The process will be carried out in various stages, depending on the evolution of events, using both industry reserves and those of the Strategic Reserves Corporation for Petroleum Products, which will oversee the procedure.
