Dubai: Dubai’s Supreme Council of Energy is now the sole entity responsible for trading in petroleum products in the emirate. This follows a Decree issued by Sheikh Mohammed Bin Rashid Al Maktoum, UAE Vice-President and Prime Minister and Ruler of Dubai.
According to it, the Supreme Council of Energy is responsible for fulfilling the role and authorities outlined in Federal Law No. 14 of 2017, its bylaws and all other decisions issued. In particular, the Supreme Council is responsible for issuing authorisation for trading petroleum products in the emirate.
The Supreme Council is also authorised to enter into agreements with public and private entities to carry out its responsibilities. This Decree will be published in the Official Gazette and is valid from its date of issuance.