Press Release: Commission welcomes the Council agreement on oil stocks which improves EU’s readiness in case of supply crises

On 12 June, 2009, Energy Commissioner Andris Piebalgs welcomed the Energy Council's decision on the new directive on emergency oil stocks, which the Commission adopted last November as a part of its security of supply package. 'Whilst the Council did not retain some elements of our original proposal, I'm satisfied that the new legislation will bring the EU system of oil stocks closer to current international practices and strengthen the Community's capacity to use the stocks effectively so as to minimize the negative effect on consumers in case of a supply crisis', said Commissioner Piebalgs.