Law of Petroleum and Petrochemical Products

In this Law, the following words and phrases shall have the meanings assigned thereto, unless the context requires otherwise: Law: Law of Petroleum and Petrochemical Products. Regulations: Implementing Regulations of the Law. Ministry: Ministry of Energy. Minister: Minister of Energy. Person: A natural or legal person. Petroleum Products: Oils, bitumen, condensates, and the products derived therefrom through refining, production, treatment, and cracking operations; petroleum products resulting from distillation, manufacturing, maintenance, operation, or cleaning; and all types of liquid fuel, whether used or consumed. Petroleum Operations: The use, sale, purchase, transport, storage, import, export, packaging, or treatment of any petroleum product as well as the construction or operation of refineries, terminals, or distribution stations. Petrochemicals: Chemical compounds derived from the use of other hydrocarbon, petroleum, or petrochemical products as basic feedstock in their production, through separation or blending operations or through chemical reactions. Petrochemicals are also called basic, intermediate, transitional, and specialized materials. Petrochemical Operations: The production, treatment, sale, purchase, distribution, transport, storage, packaging, import, or export of petrochemicals as well as the operation of petrochemical facilities. Feedstock: A petroleum or petrochemical product or more used as input in any production operation through refining, blending, or chemical reactions. Refinery: A facility that refines crude oil or condensates to produce petroleum products through separation and treatment. Terminal: A site designated at seaports for the export, import, or local distribution of petroleum products. Distribution Station: A site designated for the local distribution of petroleum products. Treatment: The process of improving, purifying, or rehabilitating used petroleum or petrochemical products, petroleum or petrochemical products recovered from refineries and facilities, waste containing petroleum or petrochemical products, spent catalysts, or oil residues. Packaging: The process of filling a type of petroleum product into specially-designed containers for the purpose of circulation. Law of Petroleum and Petrochemical Products License: A document granted by the Ministry authorizing a licensee to engage in petroleum or petrochemical operations. Licensee: A person holding a license. Priced Petroleum Products: Petroleum products the local selling prices of which are set by the government.