Government hit over oil reserves

LABOUR energy spokesman Tommy Broughan has accused the Government of failing to meet its own oil reserves target during the belated introduction of the National Oil Reserves Agency (NORA) Bill to Dáil Éireann.

Mr Broughan said: “At the start of this administration the Government gave NORA a target of 120 days’ oil reserves to be held in Ireland and abroad. Minister Ahern informed us today that the reserve stands at only 108 days.

“The NORA Bill is a missed opportunity for the Government. Sweden, for example, has set an ambitious target for completely weaning the state off its oil addiction by 2020.”