Royal Decree No. M / 18 - The petroleum products trade system

Country / jurisdiction: Saudi Arabia · Year: 2017 · Status: In force · Level: National · Type: Voluntary

The petroleum products trade system aims to regulate all aspects of commercial activity related to trade in petroleum products, including use, sale, transport, storage, distribution, import and export. This includes crude oil and its derivatives, including: jet fuel, kerosene, gasoline, diesel, fuel oil, and asphalt. Product priced by state is limited to fuel use for burning purposes while feedstock applications would have to adhere to international prices.

The law requires persons to obtain a permit from this ministry before exporting or importing any petroleum products or materials containing priced or unpriced petroleum products. Any person who trades in petroleum products including buying, selling, distribution or uses petroleum products for commercial purposes without the required permit or approval of the Ministry may be subject to cancellation of existing permits, suspension of supply contracts, and/or a ban from seeking future permits.

Official source: https://laws.boe.gov.sa/BoeLaws/Laws/LawDetails/e102ee5b-3046-41c5-9515-a9ea000206eb/1