Portugal clarifies crude reserves in France as opposition warns of energy risks

Government defends crude storage in France

Following a Council of Ministers meeting on 24 September 2026, Minister of Environment and Energy Maria da Graça Carvalho rejected claims that Portugal faces a fuel supply shortage. The clarification responded to remarks earlier that morning by Socialist Party Secretary-General José Luís Carneiro, who called for explanations regarding strategic energy reserves. Carneiro questioned whether stocks were sent abroad to assist France and argued that Portugal had purchased crude grades that cannot be refined domestically. Carvalho described the opposition leader's statements as irresponsible, noting that Portugal maintains 92 days of liquid fuel reserves, exceeding the 90-day European reference requirement. Strategic jet fuel reserves also rose 18% despite a 3% consumption increase through August.

Portugal did not send fuel to supply France. That is a completely wrong idea. Portugal stored part of its own strategic oil reserves in France, a practice that is very common in Europe.

Refinery closure and storage constraints

The minister explained that storing crude abroad became necessary after the Galp refinery in Matosinhos closed in 2021 under former prime minister António Costa. That decision reduced domestic storage capacity for crude and refined fuels by approximately one third. Galp subsequently informed the National Entity for the Energy Sector (ENSE) that it could no longer sustain its national storage contract. Consequently, Portugal relocated 132,000 tonnes of crude oil to storage facilities in France. Carvalho emphasized that this volume represents less than one tenth of the national strategic reserve, remains sovereign property of the Portuguese state, and can be mobilized at any time by government decision.

Cabinet approves transport and household energy aid

During the briefing in Lisbon, the government approved an extension of extraordinary support for vulnerable households purchasing bottled gas through the end of December 2026. The extension carries an additional cost of 2.5 million euros, raising total budgeted expenditure for the programme to 5.7 million euros this year after 3.5 million euros were spent through August. The Council of Ministers also approved a temporary framework to distribute 30 million euros in extraordinary relief to freight and passenger transport companies, covering 70% of extra operating costs caused by rising fuel prices.

Fuel market pressure and fiscal debate

The domestic dispute coincides with high pump prices, with average diesel in Portugal reaching 2.22 euros per litre, one cent below the European Union average. In global commodity markets, Brent crude rose to 106 dollars per barrel on Thursday morning after briefly trading below 100 dollars on Tuesday. In parliament, lawmakers prepared to debate 14 cost-of-living initiatives, including proposals from Chega for zero VAT on essential foods and from the Socialist Party for a 13% VAT rate on fuel. Business groups demanded broader interventions, with Portuguese Business Association President Luís Miguel Ribeiro proposing the suspension of the carbon tax. Ribeiro stated the suspension would lower diesel by 21 cents per litre and petrol by 19 cents per litre, creating a 372 million euro fiscal impact that could be absorbed by Portugal's 800 million euro first-half budget surplus. Meanwhile, Portuguese Confederation of Micro, Small and Medium Enterprises President Jorge Pisco criticized Prime Minister Luís Montenegro, warning that businesses cannot absorb relentless fuel and interest rate increases.