Community Research and Development Information Service - CORDIS

Emergency oil allocation exemption renewed for the International Energy Programme

The European Commission intends to renew the exemption granted on 12 December 1983 (Decision 83/671/EEC, OJ No L 376, 31.12.1983) for the concerted practices necessary to carry out the emergency oil allocation system of the International Energy Programme (IEP) within the Inter...
The European Commission intends to renew the exemption granted on 12 December 1983 (Decision 83/671/EEC, OJ No L 376, 31.12.1983) for the concerted practices necessary to carry out the emergency oil allocation system of the International Energy Programme (IEP) within the International Energy Agency. On the basis of the information at its disposal, the Commission has come to the preliminary conclusion that the impact of the notified arrangements upon competition has not materially changed and that the conditions for exemption continue to be fulfilled.

The IEP aims at responding to oil supply disruptions by assuring the availability of oil stocks for drawdown in emergencies, and by restraining demand and allocating available supplies among the participating countries on an equitable basis according to an allocation process.
Follow us on: RSS Facebook Twitter YouTube Managed by the EU Publications Office Top