Erdoelbevorratungsverband
LEI 529900I76X1QLK6WR054

The Erdölbevorratungsverband (EBV) was formed in 1978 under the Petroleum Stockholding Act (Erdölbevorratungsgesetz/"ErdölBevG") as a public corporation with its corporate seat in Hamburg, Germany. Das Streits-Haus am Jungfernstieg The purpose of the EBV is to stockpile reserves of crude oil and petroleum products (gasoline products, diesel fuel, light heating oil and jet fuel) of at least 90 days' worth of consumption. All companies that produce relevant products domestically or that import such products into Germany are compulsory members of the Erdölbevorratungsverband (EBV) and are required to pay mandatory fees for its financing. To find out more about the history of compulsory petroleum stockholding in the Federal Republic of Germany please read » here. The EBV's two-person Management Board is appointed by a supervisory body (Advisory Board). The Advisory Board consists of at least nine individuals and includes between one and at most three representatives from the Federal Ministry of Economic Affairs and Energy, one representative each from the Federal Ministry of Finance, and the German Bundesrat, as well as six representatives from the petroleum industry. The representatives from the petroleum industry are elected by the Members' Assembly for terms of three years. A deputy is elected or appointed for each member of the Advisory Board.