Riyadh: Saudi Arabia on Sunday announced the launch of electronic service to issue a license for import and export activity for petroleum products, the Saudi Press Agency (SPA) reported.
The Ministry of Energy in the Kingdom said that this service was launched through the electronic services platform of the petroleum products trading system on the official website of the ministry.
The launch of the service comes in the implementation of the petroleum products trade system, against which a royal decree was issued. It aims to regulate all aspects of commercial activity related to trade in petroleum products.
Obtaining licenses and permits is a basic requirement to trade in petroleum products and helps boost the consumption efficiency, services and product quality, which reflects positively on the end-user and national economy.
It is noteworthy that a previous royal decree stipulates that the ministry will undertake the organization of all measures related to commercial activity in petroleum products, and the performance of the Saudi petroleum industry, in addition to detecting violations.
There are other activities, in addition to import and export, for which the necessary licenses must be obtained from the Ministry, which are—selling, transporting, distributing, storing and using these products either for combustion or as a feedstock in the industrial activities.