Financial Policy
Our stocks and operational costs are financed with a stockholding levy and loans with the Dutch state, offering a solid financial position.
Financial policy
COVA is a not-for-profit foundation. We fund our oil stock purchases with loans we take out from the Ministry of Finance under the terms of treasury banking. The Ministry of Economic Affairs and Climate Policy guarantees the loans contracted up to €1,465 million. This offers sufficient scope for funding the purchase of the necessary stocks. The law provides that the State will be liable for any debts of COVA which remain after its winding-up as a legal person (Section 25 of the Petroleum Products Stockpiling Act (Wva)).
COVA’s operating costs are funded from a stockholding levy on oil products. The Wva has set the stockholding levy at 0.8 cent per litre, and this is included in the fuel price at the pump. The income which COVA receives therefore moves in line with the annual consumption of gasoline, diesel and LPG.
Costs and revenue
COVA’s operating costs are mostly costs of leasing storage facilities. In addition, there are costs of inspection, insurance, logistics and interest payments on the loans outstanding with the government. The organisation’s expenditure consists of staff costs, accommodation costs and IT. COVA aims to use operating surpluses to pay off loans. In this way, we prevent a situation in which future generations have to bear the costs incurred at present.
COVA’s stocks are valued at historical cost, where necessary adjusted to a lower market value. These stocks represent more than 90% of COVA’s balance sheet total.
Financial statements
Financial statements We publish our financial statements online. As well as presenting the operating figures in these statements, we describe the developments on the (international) oil and oil storage markets and explain how they were taken into account in our risk analysis. We also take a detailed look at COVA’s stockholding overview and governance. The financial statements are submitted for approval to the minister of Climate Policy and Green Growth.
2025 The calm before the storm
The Netherlands remains highly dependent on oil imports. Oil continues to be the largest source of energy globally, in Europe, and in the Netherlands. Although oil supply was abundant in 2025, geopolitical instability underscores the importance of maintaining a robust strategic oil stockpile and remaining vigilant regarding potential disruptions to oil supply. The principles communicated at the end of 2025 for the revision of the Dutch Oil Stockholding Act provide COVA with greater scope for long-term planning. In 2025, COVA began filling its new underground gasoline storage facility in northern Germany while simultaneously selling part of its diesel stocks. Revenue from stockholding levies declined in 2025 due to lower consumption of diesel and gasoline. Costs increased, among other factors, because of higher interest expenses. Through portfolio adjustments, COVA was able to reduce storage costs in 2025 despite continued inflationary pressures, and COVA’s financial position remains robust. In a world that remains highly volatile, we are pleased to be working closely with the Ministry to build a strong foundation for the security of oil and petroleum product supplies in the Netherlands. Read more in our 2025 Annual Report.
WNT register
The financial statements contain a clarification of the annual figures and information in the context of the Senior Executives in the Public and Semi-Public Sector (Standards for Remuneration) Act (WNT). The WNT data forms an integral part of the annual financial report and accounts on which an audit opinion is issued. As a legal person with a statutory task, COVA is subject to the WNT and makes its data for previous years publicly accessible.