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India invited to become full time IEA member

  • Integrity Education, Delhi
  • 12, Oct 2021
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  • International Energy Agency (IEA) has invited India to become its full time member
  • India is the world's third largest energy consumer.
  • In March 2017, India became an associate member of the agency.

About IEA

  • The International Energy Agency is a Paris-based autonomous intergovernmental organisation established in the framework of the Organisation for Economic Co-operation and Development (OECD) in 1974 in the wake of the 1973 oil crisis.
  • The IEA was initially dedicated to responding to physical disruptions in the supply of oil, as well as serving as an information source on statistics about the international oil market and other energy sectors.
  • It is best known for the publication of its annual World Energy Outlook
  • Today the IEA acts as a policy adviser to its member states, as well as major emerging economies such as Brazil, China, India, Indonesia and South Africa to support energy security and advance the clean energy transition worldwide.
  • Only OECD member states can become members of the IEA. 
  • IEA member countries are required to maintain total oil stock levels equivalent to at least 90 days of the previous year's net imports.
  • India’s current strategic oil reserves equal 9.5 days of its requirement.