Modernization of the emergency oil stock regime
Consultation period: 22/04/2008 - 17/06/2008
The European Commission has launched an online consultation to ascertain the views of interested parties on the possible revision of the existing legislation on emergency oil stocks.
The consultation is based on a document that outlines the key issues in the current regime that the Commission regards as in need of addressing and suggests possible changes to the current legislation. The attached annex with the results of a fact-finding exercise provides additional details on the characteristics and shortcomings of the current system and the objectives to be achieved through a possible revision.
The Commission hopes to obtain a set of reactions and contributions concerning the various questions raised in the consultation document.
Following the evaluation of the reactions received, the Commission may come forward with a proposal for revised legislation in the second half of 2008.