Jens Asbjørn Bøgen
Last week, the head of the International Energy Agency said, that Europe had “maybe” six weeks of fuel left.
Earlier in April the director of the International Energy Agency, Fatih Birol, told AP that Europe has “maybe six weeks of fuel left” – and that interview was conducted a week ago.
Yesterday Lufthansa announced that it cancelled 20,000 flights from now through October, resulting in 40,000 metric tons of jet fuel being saved.
Yes, since the war between Iran, Israel and the US broke out in late February, the global energy supply has been a wild ride, but a new assessment can make the European flyers breathe a sigh of relief, as the summer holiday seems to be safe.
Five months of fuel left
Reuters reports the Dutch government said on Monday that the European Union could maintain kerosene supplies for roughly five months by relying on domestic output and emergency reserves.
In a letter to parliament, Dutch officials noted that current kerosene availability stands at about 78% of normal levels, with imports largely halted.
The Netherlands, home to major refining capacity in Rotterdam, plays a key role in regional supply.
Energy buffers
Authorities outlined that European production of diesel and kerosene, combined with strategic oil reserves, could sustain demand for “several months” if disruptions persist. The estimate translates to around five months for jet fuel and more than a year for diesel and petrol, assuming reserves are fully deployed.
A spokesperson for the Dutch Energy Ministry confirmed the kerosene figure includes both commercial stocks and emergency reserves. The International Energy Agency has also indicated that European supplies should last through June.
Crisis response
Despite tightening conditions, the government said there are no immediate shortages. Prices, however, have surged after the closure of the Strait of Hormuz, a route responsible for about one-fifth of global oil and gas flows, Reuters reported.
Officials said the first phase of a national oil crisis plan will now be activated, focusing on closer market monitoring and readiness for further intervention.
A support package worth about 1 billion euros includes tax relief for transport users, loans for home energy upgrades, and targeted aid for lower-income households.
Sources: Reuters, International Energy Agency, AP, Lufthansa
