Abu Dhabi Issues First Permit for Petroleum Product Trading

The Abu Dhabi Trading Regulatory Committee, under the leadership of the Department of Energy (DoE), has issued its first permit for petroleum product trading in the emirate. This milestone aligns with Law No. (5) of 2023, Federal Law No. (14) of 2017, and relevant ministerial resolutions, marking a significant step in activating the petroleum products sector in Abu Dhabi.

The issuance of this permit underscores the emirate's commitment to establishing a comprehensive legal and regulatory framework for petroleum product trading. Emphasis is placed on safety, environmental sustainability, and operational efficiency, reflecting Abu Dhabi's focus on enhancing standards across the sector.

Advanced technologies have been introduced to monitor petroleum transportation operations, complemented by extensive training programs aimed at boosting workforce capabilities. Stakeholders have also been engaged through outreach initiatives to communicate safety and technical standards effectively.

The first permit was granted to Al Nasr Contracting Co. LLC, with additional permits for various petroleum activities currently under review. These efforts are expected to support the local economy while strengthening the sector’s overall functionality.

The committee responsible for overseeing this process includes representatives from 20 federal and local entities. It reviews permit applications to ensure compliance with safety, environmental, and operational standards, offering guidance on permissible trading activities and making adjustments as needed.