The Norwegian authorities decided today that Norway will take part in the International Energy Agency’s (IEA) emergency efforts to provide oil products.

“It is very important that Norway, together with the other IEA countries, takes collective, co-ordinated measures,” said Foreign Minister Jan Petersen in connection with the request Norway has received from the IEA. The IEA is taking action to compensate for the significant loss of oil production due to the damage caused by Hurricane Katrina in the Gulf of Mexico. The hurricane has also damaged a number of refineries. The full consequences for US petroleum production are not yet known.

The IEA countries will make available a total of two million barrels per day of oil from their emergency stocks for a period of 30 days. Norway’s contribution amounts to 7,980 barrels per day.

“This joint initiative will be a significant factor in ensuring the energy supply in the current situation. The volume will be drawn from Norway’s existing emergency stocks,” said Petroleum and Energy Minister Thorhild Widvey.