Petroleum Act 2020 (Act. 18 of 2020).

The Act is organized in XXVI Parts and lays down the discipline for the reconnaissance, exploration, production and disposal of petroleum products, their administration and management and for incidental matters. Al rights of ownership in and the exercise of control over petroleum its natural state under or upon any land or marine area of the Kingdom of Eswatini are vested in the iNgwenyama in trust for the Eswatini Nation. The Minister is responsible for the administration of the Act and his powers include: to prescribe the price, or a maximum or minimum price at which any petroleum product may be sold or bought; designate fuel oil suppliers, authorise, licence and regulate all petroleum activities; impose levies; establish any fund and strategic institutions for the security of supply of affordable fuel; create an environment for empowerment and protection of locals in the petroleum industry; prescribe the minimum percentage of fuel volumes to be stored or drawn by the oil companies from the strategic oil reserve facility; issue permits for importers and exporters of petroleum and products; and prescribe the grades, specifications, and blending ratios of petroleum products and biofuels to be sold in the Kingdom of Eswatini.
Part III regulates petroleum activities (upstream activities); the Act prohibits to conduct any upstream activity or operation without a license an disciplines offences. The Part establishes the Petroleum Advisory Committee and provides for composition. Part IV establishes the National oil company a public enterprise with the objective to secure, market, trade in crude oil and petroleum products; to carry out the business of supplying and distributing petroleum and petroleum product; importing and exporting petroleum and petroleum products; manage crude oil and petroleum logistics investments, etc. Part V regulates financial provisions. Part VII is relinquishment. Part VIII, establishes that any assignment or transfer of rights or obligations shall be made only with the consent of the Minister. The Minister may also establish a refinery, petroleum pipelines, establish and maintain strategic stocks of petroleum products, make regulations for the prevention of pollution of land, water or air from petroleum operations; among others.