Financial information

CORES is governed by the regulations of commercial law with regard to its accounting procedures, official books and accounting documents. 

Its legal framework guarantees sufficient income to cover all operating and financial costs, which is why it can never report a loss. 

Given CORES’ special nature and due to its activity, the Law on the Hydrocarbon Sector exempted CORES from paying corporate tax on the income deriving from the financial contributions made by its members, as well as any income that CORES might obtain as a result of transactions disposing of strategic stocks.

CORES is a non-profit entity