Petroleum and Petroleum Product Law.

The Objectives of this law are as follows: a. to carry out the petroleum and petroleum product businesses activities systematically in accordance with the provisions of the law, stipulated standards, procedures and conditions; b. to enable the petroleum and petroleum product business activities to carry out safely without environmental impact; c. to establish free and fair competition in carrying out petroleum and petroleum product business activities; d. to secure energy requirement and energy security of the Union; e. to obtain tax revenue of the Union.
The Supervisory Committee on petroleum and petroleum product business activities comprising with maximum 15 members, including the representatives of the ministries concerned, shall be established to systematically supervise petroleum and petroleum product business activities. The Ministry of Commerce shall carry out the following functions relating to any petroleum and petroleum product: a. issuing licences relating to import or export; b. prohibition not to import or export from the other places except from the places stipulated for import or export; c. determining procedures, and conditions relating to import or export; etc.
The Law further makes provisions for: test of petroleum and petroleum product, prohibitions, offences and penalties, etc.