Riyadh: The Ministry of Energy has reiterated that all activities involving petroleum and petrochemical materials must obtain the necessary licenses from the ministry. This requirement is part of a broader effort to ensure compliance with the newly issued Law of Petroleum and Petrochemical Products. According to Saudi Press Agency, the new procedure aligns with the Law of Petroleum and Petrochemical Products, which was enacted by Royal Decree No. (M/139) on January 12, 2025. This law replaces the previous Law of Trade in Petroleum Products and is designed to enhance the security and reliability of petroleum and petrochemical supplies. The legislation also aims to improve oversight of sector operations, increase compliance levels, and reduce violations. In doing so, it seeks to maximize the value of raw materials and elevate them to more advanced stages of production. The law further aims to protect the interests of both consumers and licensed operators while supporting the energy objectives outlined in Saud i Vision 2030. To achieve these goals, the licensing requirement covers a range of key activities, including sales and purchasing, transportation, storage, usage, import and export, as well as packaging and processing. Entities engaged in any petroleum-related activities are now required to obtain the appropriate licenses in accordance with the law and its executive regulations. This mandate is part of the ministry's ongoing efforts to regulate petroleum and petrochemical operations from the source to the end user. Source: Saudi Press Agency