Establishment

The Cyprus Organisation for Storage and Management of Oil Stocks (COSMOS) is a public body founded and operating under the Maintenance of Oil Stocks Law of 2003 to 2005.

COSMOS was founded for the purpose of harmonization with European Directive 68/414/EEC, imposing an obligation on member states of the European Union to maintain minimum stocks of crude oil and/or petroleum products.

COSMOS is a non-profit semi-governmental organisation operating under the supervision of the Minister of Commerce, Industry and Tourism of Cyprus.