Dáil Éireann Debate, Tuesday - 15 June 2021
215. Deputy Darren O'Rourke asked the Minister for the Environment, Climate and Communications the funding currently contained in the National Oil Reserves Agency Fund; and if he will make a statement on the matter. [31903/21]
View answerOn 30th April 2021, the financial assets of the National Oil Reserves Agency (NORA) were, in total, c. €285.8m. These financial assets were mainly accrued prior to 1 August 2020 and the enactment of the National Oil Reserves Agency (Amendment) and Provision of Central Treasury Services Act 2020. Funds collected prior to this date may be utilised to fund the activities of the agency only. However, the use of these funds for this purpose will allow for the majority of Petroleum Product levy (also know as the NORA levy) receipts, in the upcoming years, to be available for transfer to the Climate Action Fund.
