RIYADH — Saudi Arabia’s Ministry of Power has confirmed that every one actions associated to petroleum and petrochemical supplies require prior licensing from the ministry, in accordance with the Petroleum and Petrochemical Supplies Legislation issued beneath Royal Decree No. (M/139) dated 12/7/1446H.
The brand new legislation replaces the earlier Legislation of Commerce in Petroleum Merchandise and goals to make sure the safety and reliability of petroleum and petrochemical provides, whereas strengthening oversight and supervision of sector operations to boost compliance with rules and necessities.
The ministry stated the system is designed to fight violations, maximize the optimum use of uncooked supplies, help their transition into superior manufacturing levels, defend the pursuits of shoppers and license holders, and contribute to reaching the aims of Saudi Imaginative and prescient 2030 within the vitality sector.
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Key actions coated beneath the legislation embody licensing for the sale and buy, transportation, storage, use, import, export, packaging and processing of petroleum and petrochemical supplies.
As a part of broader efforts to manage and handle petroleum and petrochemical operations from supply to finish shopper, the ministry harassed that institutions engaged in such actions should promptly receive the required licenses in compliance with the legislation and its govt rules.
On this context, the Ministry of Power has launched an digital service enabling the issuance of licenses for all focused petroleum-related actions by means of its on-line platform.
