Portugal confident its airports will avoid jet fuel shortages

Portugal is confident there will be no jet fuel shortages at the country's airports in the coming months, despite concerns among European airlines ahead of the holiday travel season.

Portuguese Infrastructure Minister Miguel Pinto Luz told reporters on Monday that the government was in contact with oil companies and "knows what stock levels are available at national airports", without revealing them.

European airlines have warned the Iran war could trigger jet fuel shortages, as Europe relies on the Middle East for about 75% of its jet fuel imports.

"It is a problem at a European scale, we are monitoring the situation closely ... our goal is to ensure that nothing fails in the coming months. We believe supply will continue to be guaranteed," Pinto Luz added.

Portugal is more shielded from the conflict than some other European countries, as its dominant jet fuel supplier to airports, Galp Energia GALP.LS, sources its crude mainly from Brazil and processes it into jet fuel at its Sines refinery.

"At this stage, no disruptions are anticipated in the coming months, a period during which consumption is covered by Galp's own production, available stocks and imports," it said.

Galp is also taking measures to secure jet fuel supply.

-Sergio Goncalves/Reuters