Dubai Regulatory Committee for Petroleum Products Trading formed
HH Sheikh Hamdan issues resolution to form new entity that will report to the Supreme Council of Energy
HH Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council, has issued the Executive Council Resolution No. (16) of 2019 forming the Dubai Regulatory Committee for Petroleum Products Trading, an entity reporting directly to the Supreme Council of Energy that will include representatives from the UAE's most important public- and private-sector entities.
According to UAE state news agency, Wam, the Committee includes representatives from the country's Ministry of Interior, Ministry of Energy and Industry, Federal Authority for Land and Maritime Transport, and Supreme Council of Energy.
Also in the committee are leaders from Dubai Police, Directorate General of Civil Defence Dubai, Dubai Municipality, Roads and Transport Authority, Department of Economic Development, Dubai Customs, Dubai Chamber Of Commerce and Industry, Dubai Petroleum Company, Emirates National Oil Company, Ports Customs and Free Zone Corporation, and Dubai Maritime City Authority.
The Supreme Council of Energy's chairman will appoint a chairman and vice chairman for the committee, which will be responsible for all duties prescribed in Federal Law No. (14) of 2017.
The law focuses on the trading of petroleum products, and its bylaws and any other relevant regulation, as issued by Supreme Council of Energy.
The Supreme Council of Energy's chairman may issue any regulations or decisions to implement the resolution, which is valid from the date of issuance and will be published in the Official Gazette.