Petroleum Products Trading Committee Holds Its Third Meeting Of 2024

(MENAFN- Dubai PR Network) Abu Dhabi, 22 August 2024: The Petroleum Products Trading Committee of Abu Dhabi held its third meeting of 2024, chaired by Dr. Saif Saeed Al Qubaisi, Acting Director General of Regulatory Affairs at the Department of Energy and Chairman of the Committee. The meeting was attended by members representing government entities in the Emirate.

At the beginning of the meeting, Abu Dhabi Civil Defence Authority delivered a presentation on the challenges and risks in addressing the unlicensed trading of petroleum products, and another presentation from ADNOC Distribution on the latest developments in the gray market. In addition, a presentation was presented by the Emergencies, Crisis and Disasters Management Center - Abu Dhabi which focused on the key roles and responsibilities in dealing with petroleum product incidents.

During the meeting, the outcomes of the petroleum products emergency drill conducted by the Abu Dhabi Emergencies, Crises and Disasters Management Centre were reviewed. The meeting also discussed updates from the committee's working groups.

The meeting addressed the summer awareness campaign for the safety of liquefied petroleum gas (LPG) systems, recently launched by the Abu Dhabi Department of Energy, highlighting the most important field visits aimed at raising awareness of safety standards and implementing best practices throughout the summer months.

At the end of the meeting, Eng. Bader Saeed Al Lamki, CEO of ADNOC Distribution, emphasized the importance of the committee in ensuring a safe, reliable, and sustainable energy sector, by adopting a customer-friendly approach that follows global best practices.

It is worth noting that the Petroleum Products Trading Committee consists of 19 entities in the Emirate of Abu Dhabi. Its main competencies and powers, as stipulated in Federal Law No. (14) of 2017, include reviewing applications for trading permits referred to it by the Department of Energy, verifying that these applications meet the relevant approved conditions, and making recommendations to the Department as it deems appropriate. Additionally, the committee verifies the availability of approved security, safety, and environmental requirements in the means of transportation, manufacturing, storage, and facilities through which or by which the trading will be conducted. It also makes recommendations regarding the petroleum products that can be traded in Abu Dhabi and recommends adding or suspending trading activities based on the Emirate's needs.

MENAFN22082024003092003082ID1108588592