Greece starts controlled release of strategic fuel reserves to steady domestic supply

Greece has started a controlled release of approximately 2 million barrels from its strategic emergency fuel reserves, a move designed to reduce risks from global supply uncertainty and rising geopolitical tensions that are weighing on international energy markets. For investors and fuel buyers, the policy matters because it targets near-term price pressure by increasing domestic availability during a period when disruption fears remain elevated.

12-week distribution plan with front-loaded volumes

According to the Greek Energy Ministry, the release is being carried out through a 12-week distribution program. The largest share of product is scheduled to enter the domestic market early in the operation: around 1.3 million barrels were slated for distribution during the first week.

The program covers a broad mix of petroleum products, including petrol, diesel, jet fuel, fuel oil and liquefied gas. Eight major energy companies are participating to help maintain stable fuel supplies and prevent additional pressure on domestic fuel prices.

Expected tapering after initial draw

After the initial surge in volumes, officials said distribution quantities are expected to decline gradually. The ministry stated that roughly 70,000 tons would be released during the second week, with weekly supply volumes expected to stabilize between 50,000 and 60,000 tons until the program ends in mid-June.

Decision made amid disruption concerns despite softer oil prices

The reserve-release decision comes even though oil prices remain below $100 per barrel. Authorities cited continued concerns about geopolitical instability and potential disruptions to global shipping routes—particularly around key transit points such as the Strait of Hormuz.

Company allocations and scale versus national consumption

Under the allocation plan, Helleniq Petroleum will release nearly 180,000 tons of crude oil. Motor Oil is expected to provide more than 26,000 tons of light fuels, over 25,000 tons of diesel and heating oil, and about 35,000 tons of heavy fuel products.

Other participants will add further volumes: Aegean is set to contribute close to 1,000 tons of heavy fuels, while Coral plans to release additional quantities of petrol, aviation fuel and diesel. In total, the amount entering the market represents roughly one week of Greece’s national fuel consumption and equals about 13% of the country’s estimated strategic petroleum reserves—believed to total between 14 million and 15 million barrels.