Sunday, May 10, 2020

International Energy Agency (IEA)

* The International Energy Agency is a Paris based autonomous intergovernmental organization established in the framework of the Organisation for Economic Co-operation and Development (OECD) in 1974 in the wake of the  1973 Oil Crisis.

 * It aims to ensure reliable, affordable and clean energy for its  member countries and beyond. 

* It has 30 members at present. IEA family also includes eight association countries. A candidate country must be a member country of the OECD.  But all OECD members are not IEA members. 

* India is an associate  member of  IEA.

#To become member a candidate country must demonstrate that it has:

* Crude oil and/or product reserves equivalent to 90 days of the previous year’s net imports, to which the government has immediate access (even if it does not own them directly) and could be used to address disruptions to global oil supply.

* A demand restraint programme to reduce national oil consumption by up to 10%.

* Legislation and organisation to operate the Co-ordinated Emergency Response Measures (CERM) on a national basis.

* Legislation and measures to ensure that all oil companies under its jurisdiction report information upon request.

* Measures in place to ensure the capability of contributing its share of an IEA collective action.

# Reports released by IEA

* Global Energy & CO2 Status Report.

* World Energy Outlook.

* World Energy Statistics.

* World Energy Balances.

* Energy Technology Perspectives.

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