Law of Petroleum and Petrochemical Products

The Regulations shall specify the following: 1. The technical, operational, and procedural rules necessary for engaging in petroleum and petrochemical operations. 2. Licensing requirements, scope of business, license duration, and any other requirement to be complied with by the licensee as well as the provisions for license amendment, renewal, and transfer. Law of Petroleum and Petrochemical Products 3. Criteria for evaluating compliance with the terms of the license and the consequences of non-compliance. 4. Criteria and requirements for qualifying for and performing petroleum and petrochemical operations. 5. Criteria for the classification of materials containing petroleum products. 6. Rules and procedures for the purpose of ensuring the security and reliability of petroleum and petrochemical product supplies and securing the needs of the local market of such supplies.