CPSSP : a legal body regulated by the state
The Comité Professionnel des Stocks Stratégiques Pétroliers (CPSSP) was founded by the oil law 92-1443 dated 31st December 1992 and its role stipulated by the decrees 93-131 and 93-132 dated 29th January 1993.
The CPSSP is a legal body with a Board of 13 directors representing various oil organizations, and representatives of responsible ministries (Ministry of Economy with DGCCRF, Ministry of Budget), a state Commissioner (Ministry of Environment, Energy and Sea) and a Financial Controller (Finance Ministry).
The links between SAGESS and CPSSP are detailed in a mandate agreement. This indefinite agreement, approved by ministerial decree, governs these relation. The Committee general management is provided by a Managing Director, Benoit Dujardin under the supervision of the Chairman of the Board of CPSSP, André Madec.
Operational decision-making and delegation
The sole mission of the CPSSP is to constitute and safeguard stocks of crude oil and oil products to cover the part of stocks obligation of the oil operators as attributed by law to the CPSSP. This mission covers metropolitan France only.SAGESS provides its stocks to CPSSP. These stocks, the tickets and operators stocks are accounted by CPSSP to constitute the French compulsory coverage.
Otherwise, SAGESS undertakes the administrative and operational management of the strategic stock obligations in the name and on behalf of CPSSP.