National Oil Reserves Agency Act 2007 (No. 7 of 2007).

The Act provides for the transfer of share owned by Irish National Petroleum Corporation Limited in National Oil Reserves Agency Limited. The Act also under Part 3 rules that the National Oil Reserves Agency Limited continues in existence under this Act, but is to be known as An Ghníomhaireacht Chúltaca Ola Náisiúnta or, in the English language, as the National Oil Reserves Agency. The principal object of the Agency is to perform the functions assigned under this Act, including the functions of (a) maintaining, in accordance with Part 4 , oil stocks; (b) providing advice, information or guidance to the Minister on any matter relating to the holding of oil stocks; (c) collecting and recovering the levy; (d) providing consultancy, advisory, technical assistance and contract services (including research and training services) in the State or elsewhere; (e) representing a Minister of the Government at meetings of international bodies in so far as the meetings relate to the holding of oil stocks.