The Abu Dhabi Trading Regulatory Committee (TRC) for petroleum products, under the supervision of the Department of Energy (DoE), has issued the first-ever permit for petroleum product trading in the Emirate. This milestone aligns with Law No. (5) of 2023, Federal Law No. (14) of 2017, and its accompanying regulations, emphasizing Abu Dhabi’s commitment to establishing a robust and sustainable legal framework for the petroleum sector.
Advancing Sustainability and Efficiency
H.E. Dr. Saif Saeed Al Qubaisi, Acting Director General of Regulatory Affairs at the DoE, underscored the significance of this development. He stated, “This permit is particularly significant as it is the first trading permit since the activation of the petroleum products sector in Abu Dhabi. Its issuance underscores the DoE’s steadfast commitment to advancing a sustainable and efficient energy sector in the Emirate.”
Dr. Al Qubaisi also emphasized the importance of collaboration with stakeholders to enhance safety and ensure compliance with stringent environmental, technical, and regulatory standards.
A Focus on Safety and Environmental Standards
Engineer Ahmed Alsheebani, Acting Executive Director of the Petroleum Products Sector, echoed these sentiments, highlighting the advanced technologies and training programs implemented to bolster compliance and operational efficiency. He remarked, “The new permit is part of our continued commitment to advance safety and environmental standards within the petroleum sector. It aims to enhance overall operational efficiency while ensuring public safety and environmental sustainability.”
The inaugural permit has been granted to Al Nasr Contracting Co. LLC, marking the first step in a series of initiatives aimed at fostering economic growth and improving sector productivity. The DoE is actively reviewing additional permits to cover various petroleum-related activities, further strengthening the Emirate’s energy sector.
Enhancing Sectoral Collaboration
The TRC, comprising representatives from 20 federal and local entities, demonstrates a collaborative approach to promoting sustainability and safety. Specialized task forces have been established to execute the committee’s objectives, ensuring alignment with Abu Dhabi’s strategic goals.
The TRC is responsible for reviewing and approving trading permit applications, ensuring compliance with stringent safety, environmental, and operational standards. It also advises on the types of petroleum products permitted for trading and adjusts trading activities based on the Emirate’s dynamic needs.
A Sustainable Future
As part of its outreach efforts, the DoE is conducting workshops, field visits, and awareness programs to educate private sector partners and the community about technical standards and safety requirements. This initiative aims to ensure a seamless transition to a fully regulated petroleum trading environment.
Engineer Alsheebani concluded, “The initiation of the petroleum trading permits will significantly contribute to fostering a sustainable local economy, improve operational efficiency, and enhance overall productivity.”
For more details, visit the Department of Energy’s website: www.doe.gov.ae.
