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Energy|Financial|Petroleum|Resources|SECURITY|Products
Energy|Financial|Petroleum|Resources|SECURITY|Products
energy|financial|petroleum|resources|security|products

Petroleum Products Bill released for public comment

24th October 2024

By: Creamer Media Reporter

     

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Draft Petroleum Products Bill  (1.47 MB)

The Department of Mineral Resources and Energy (DMRE) has published the draft Petroleum Products Bill for a 60-day public comment period, which was launched on October 21.

The DMRE says the Bill, which seeks to repeal and replace the Petroleum Products Act of 1977, aims to expand and streamline the licensing and appeals processes.

It also aims to improve compliance and enforcement by increasing the powers of the controller, regional controllers and inspectors of petroleum products.

The draft legislation seeks to strengthen the Petroleum Products Act to contribute towards government priorities on economic transformation and job creation, while also ensuring security of supply of petroleum products and the orderly development of the petroleum products.

The Minister's powers to make regulations regarding financial provisions for rehabilitation are also introduced.

“The draft Bill also introduces a new category of wholesaler, traders, and end consumers that may be certified to buy in bulk for own use,” the DMRE states.

Edited by Creamer Media Reporter

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