IRELAND’S overdependence on dwindling supplies of oil poses a significant burden to the economy and a threat to future energy security, a leading international report published yesterday revealed.

Ireland’s over-dependence on dwindling supplies of oil poses a significant burden to the economy and a threat to future energy security, a major international report published today revealed.

The head of Russian natural gas giant OAO Gazprom’s export division yesterday accused the head of the International Energy Agency of attempting to “destroy” the company by organising European governments to thwart Gazprom’s interests, Dow Jones Newswires reported.

The International Energy Agency has emergency procedures to release energy stocks if Hurricane Rita disrupts oil supplies from the Gulf of Mexico, IEA director Claude Mandil said today.