Dáil Éireann Debate, Tuesday - 14 April 2026
506. Deputy Peadar Tóibín asked the Minister for Climate, Energy and the Environment for his assessment on the release of NORA strategic reserves as agreed in March; if stock held outside the State has been dispatched or has arrived in the State, its impact on the base cost of fuel; and if the release of further reserves is being considered in order to address rising fuel prices. [26419/26]
View answerOn 11 March 2026, Ministers in member countries of the International Energy Agency (IEA) agreed to initiate an action to release Strategic Oil Reserves to address the supply issues that were emerging on foot of the conflict in the Middle East. Participation in this IEA collective action reflects Ireland's shared commitment to maintaining stability in global energy markets and protecting consumers and businesses from the worst effects of price volatility.
Ireland's contribution to an IEA 400-million-barrel release is 1.6 million barrels. That level of contribution equates to approximately 10.5 days of supply. My Department is liaising with NORA on operationalising this release.
My Department continues to closely monitor the situation, including participation in relevant IEA and EU fora, and weekly meetings of the Oil Security of Supply Group.
