Presidential Decree No. 133/18 approving the Statute of the Oil Derivatives Regulatory Institution.

This Presidential Decree approves the Statute of the Oil Derivatives Regulatory Institution (IRDP). This Statute, consisting of 27 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 of service and products; Promote competition in order to improve the efficiency of activities; Ensure rules and transparency of trade relations between the various actors involved in the 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 adequate standards of quality of service and products, as well as the protection of the environment; Resolve disputes in Petroleum Derivatives Sector; Follow the international good practices of regulation of the Petroleum Derivatives Sector and establish relations with similar regulatory entities and with the relevant international organizations; Guarantee concessionaires and licensed entities to obtain the necessary obligations set forth in their licences; Propose related policies to the Executive and their implementation; etc.
The Statute is divided as follows: General provisions (Chap. I); General Organization (Chap. II); Special Organization (Chap. III); Financial and Asset Management (Chap. IV); Final and Transitional provisions (Chap. V).