The Abu Dhabi Petroleum Supplies Trading Committee issues the first trading permit in the emirate

The Abu Dhabi Petroleum Supplies Trading Committee, which is chaired by the Abu Dhabi Department of Energy, issued the first permit for the trading of petroleum products in the emirate, in line with the provisions of Law No. 5 of 2023, and in accordance with the provisions of Federal Law No. 14 of 2017 and its executive regulations, in addition to the relevant ministerial decisions, which It reflects the emirate’s commitment to regulating this sector in accordance with best practices and standards.

This achievement represents an important step towards regulating the petroleum products trading sector in Abu Dhabi according to an integrated legal and regulatory framework.

His Excellency Dr. Saif Saeed Al Qubaisi, Acting Director General of Regulatory Affairs at the Department of Energy, said that this permit is of special importance as it is the first permit to trade petroleum products since the activation of the sector in Abu Dhabi, and the issuance of this permit is a firm evidence of the Department’s commitment to promoting a sustainable and effective energy sector in the emirate. .

He added that the department is continuing its ongoing efforts with various entities and stakeholders, to ensure the strengthening of security and safety procedures in the petroleum products trading sector in the emirate, and compliance with safety and environmental standards, regulatory regulations, and technical and operational requirements, and circulating them to all parties concerned in this regard.

For his part, Eng. Ahmed Al Shaibani, Acting Executive Director of the Petroleum Products Sector, confirmed that the new permit comes as part of ongoing efforts to develop safety and environmental standards in the petroleum products sector, as it aims to raise the efficiency of operations, ensuring public safety and environmental sustainability.

He explained that the Department of Energy, in cooperation with the relevant authorities, has adopted the latest technologies to track all operations of transporting petroleum materials, and has developed comprehensive training programs for cadres to ensure full compliance with the best practices and standards to reduce risks. The Department works in cooperation and coordination with the relevant authorities to provide technical support and allocate the necessary resources to ensure business sustainability and continuity. Improving the sector.

He stressed that starting to issue permits for trading in petroleum products will contribute significantly to strengthening the sustainable local economy, improving the efficiency of operations and raising productivity, noting that the first permit was issued according to the new system for the benefit of Al-Nasr Contracting LLC, in light of the work of the department. To review and issue permits to include various activities related to petroleum products with the aim of supporting the sector and the economy.

Al-Shaibani pointed out the department’s keenness to spread awareness of safety requirements and technical standards, through awareness programmes, workshops and field visits directed to all partners in the private sector and members of society.

It is noteworthy that the committee’s membership includes 20 federal and local entities, which highlights the effective coordination between the various parties to enhance the safety and sustainability of the sector, with the work of the committee supported by specialized work teams working to implement its tasks and facilitate the achievement of its goals.

The committee’s most prominent competencies are to study applications for issuing trading permits, verify that they meet the approved conditions in this regard, and recommend to the Department of Energy what it deems appropriate, in addition to verifying the availability of approved security, safety, and environmental requirements in manufacturing areas, storage warehouses, means of transportation, and facilities from which trading will take place. During or through it, and recommending petroleum products that can be traded in Abu Dhabi, and recommending adding or suspending trading activities according to the needs of the emirate.