Demetris Sparsis, a professional in the field of banking and insurance services, has succeeded Kiki Papadopoulou, as Chairman of the Board of Directors of the Cyprus Organisation for Storage and Management of Oil Stocks (KODAP), according to a decision of the Council of Ministers, which was taken last Tuesday 16 December and which has now been published in the Official Gazette of the Republic of Cyprus.
Maria Passadi, Senior Officer of Commerce and Industry and representative of the Ministry of Energy, Commerce and Industry, was reappointed to the vice chairmanship.
Stelios Leonidou, Senior Financial Officer and representative of the Ministry of Finance, as well as Maria Diakou Executive Engineer at the Department of Public Works and representative of the Ministry of Transport, Communications and Works, were appointed as members of KODAP's Board of Directors.
At the same time, Dr. Kyriakos Kouros, Director of Technical Services and representative of the Ministry of Interior, as well as Charalampos Menelaou, Generation Core Regulated Activity Manager at the Electricity Authority of Cyprus, were reappointed.
Appointments are valid for a period of three years.
It is noted that the remaining three members of the Board of Directors of KODAP are members of the Organisation or representatives of its members and are elected by the General Assembly of KODAP.
Demetris Sparsis: There is certainly work that needs to be done
"The mission of KODAP is to maintain reserves of petroleum products so as to ensure minimum reserves in cases of emergency. KODAP's goal and obligation is to maintain quantities at least equal to the average consumption of 90 days, so that the entire economy of the Republic of Cyprus can function in the event of a potential crisis," Demetris Sparsis told InBusinessNews, commenting on the decision and referring to the role and mission of the Organisation.
As he noted, "I feel that both the General Manager of KODAP and the staff of the Organisation, as well as the outgoing Board of Directors, have ensured that all procedures are prepared to the appropriate extent, so that, if the need arises, the State can respond."
At the same time, he stressed that "there are reserves both in Cyprus and abroad, so that we are not caught by surprise," noting, however, that "there is certainly work that needs to be done."
The new chairman of the Board of Directors expressed the position that "it is very important for the citizen to feel that there is the necessary stock of petroleum products for the country to function," while, in conclusion, he thanked the President of the Republic for his appointment, expressing the expectation for "cooperation both with the members of the Ministries participating in the Board of Directors of KODAP and with the three independent members representing the providers of petroleum products."
(Source: InBusinessNews)
