Decision of the Council Establishing an International Energy Agency of the Organisation

Summary

The Council,

Having regard to the Convention on the Organisation for Economic Co-operation and Development of 14th December, 1960 (hereinafter called the “Convention”) and, in particular, Articles 5(a), 6, 9, 12, 13 and 20 of the Convention;

Having regard to the Financial Regulations of the Organisation and, in particular, to Articles 5, 10, 14(b) and 16(b) thereof;

Having regard to the Regulations, Rules and Instructions for Council Experts and Consultants of the Organisation;

Noting that the Governments of certain Member countries have declared their intention to enter into a separate Agreement on an International Energy Program which is attached to document C(74)204 of 6th November, 1974, and Corrigendum 1 thereto, which is circulated for reference and is hereinafter referred to as the “Agreement”;

Having regard to the Recommendation of the Council of 29th June, 1971 on Oil Stockpiling [C(71)113(Final)];

Having regard to the Decision of the Council of 14th November, 1972 on Emergency Plans and Measures and Apportionment of Oil Supplies in an Emergency in the OECD European Area [C(72)201(Final)];

Having regard to the Recommendation of the Council of 10th January, 1974 on the Supply of Bunker Fuels for Shipping and Fishing [C(73)257(Final)];

Having regard to the Recommendation of the Council of 10th January, 1974 on the Supply of Fuel for Civil Aircraft [C(73)258(Final)];

Having regard to the Note by the Secretary-General of 6th November, 1974 concerning the International Energy Program [C(74)203 and Corrigendum 1];