A new chapter in Abu Dhabi's energy industry was launched, with the inaugural meeting of the Petroleum Products Trading Committee. The session was spearheaded by Chairman of the Abu Dhabi Department of Energy, His Excellency Awaidha Murshed Al Marar, attended by fellow committee members who hold senior official positions within the sector.
The Chairman extended a heartfelt welcome to the committee members, expressing his optimism for their future endeavors. He took a moment to appreciate the past committee's commendable achievements, laying a solid foundation for the committee's work ahead. Further, he emphasized the vital role played by primary partners, aiding the Department of Energy in executing a robust regulatory framework for petroleum products trading.
The first assembly ventured into an in-depth conversation around the mutual avenues of cooperation. This revolved around the proposed mechanisms for fulfilling the committee's responsibilities, establishing dedicated working groups, and evaluating the most recent modifications in the petroleum products trading regulatory framework. These changes are adapted to meet the Emirate's priority requirements pertaining to security, environmental safety, and outlined within the licenses granted. This ultimately aids in fortifying the Emirate's contribution to the energy sector.
Of note, the Abu Dhabi Department of Energy is proactively shaping technical and operational standards, effectively disseminating these among all associated parties. This commitment aligns seamlessly with the DoE's mandate as the principal authority under Federal Law No. (14) of 2017 and Law No. (5) of 2023. This regulates petroleum products trading within the Emirate of Abu Dhabi, reaffirming the city's role as a pivotal player in the global energy landscape.