Energy Ministers agree on minimum oil stocks
The Czech EU Presidency scores another success in one of its three main priorities – energy security.
Today, the Council gave the green light to the proposal for a directive on minimum oil stocks. The debate on the proposal was launched by the Czech Presidency in February.
“Thanks to the directive, oil stocks will be more transparent and more precise information will be available on existing stocks of crude oil and petroleum products. This will enhance Europe’s energy security in the event of a major disruption of oil supplies”, said Czech Industry and Trade Minister Vladimír Tošovský.
The directive imposes an obligation on Member States to ensure that one third of their stocks consists of petroleum products, and sets out rules for releasing stocks in the event of an emergency. The way in which stocks of crude oil and petroleum products are calculated will also be changed.
Other point on the agenda of the meeting was a report on the recent progress reached by the Czech Presidency in negotiations of three legislative proposals in the field of energy efficiency. While discussing international relations in the energy field, the Ministers addressed current issues that had occurred in the past six months.
During lunch the Ministers had an opportunity to hold the first debate on the location of the Agency for the Cooperation of Energy Regulators, the establishment of which is provided for in the package on a single energy market, which was successfully brokered by the Czech Presidency. Three Member States, Slovakia, Slovenia and Romania, have applied to host the new agency. The Member States will continue to discuss the location of the Agency, since all candidates have approximately equal support from the remaining Member States.
- More information on the Council results find in the events calendar.
Contact:
- Tomáš Bartovský, Spokesman of the Ministry of Industry and Trade
- Tel.: +420 224 853 311, GSM: +420 602 508 328, E-mail: [email protected]
Last update: 16.8.2011 15:18
