Executive Decree No. 51/19 approving the Regulation of the Oil Derivatives Regulatory Institution (IRDP).

This Executive Decree approves the Regulation of the Oil Derivatives Regulatory Institution (IRDP). This Regulation, consisting of 21 articles divided into five Chapters and 2 Annexes, establishes composition, duties and responsibilities of the above mentioned institution, entitled to perform any activity related to petroleum products. In particular it aims to: protect the rights and interests of consumers in relation to prices, quality services and products; promote competition in order to improve efficiency; ensure transparency of commercial relations between the various actors involved in this sector; contribute to the progressive improvement of the technical, economic and environmental conditions in the Petroleum Sector, stimulating the adoption of practices that promote the efficient use of petroleum products and the protection of the environment; promote the information of consumers on the quality of products and services in the oil derivatives market in coordination with the competent entities; arbitrate and resolve disputes arising within this sector; follow the international good practices; etc.