In the United Arab Emirates (UAE), gas and oil legislation is controlled by a variety of federal laws as well as rules enacted by specific emirates.
The Petroleum statute, Federal Law No. 8 of 1973, is the primary federal statute managing gas and oil. This legislation establishes the foundation for oil and gas exploration, development, and production in the UAE.
Other federal laws that may be applicable to gas and oil, in addition to the Petroleum Law, are the Gas Law, Federal Law No. 4 of 1974, and the Mineral Wealth Law, Federal Law No. 14
of 2020.
Individual emirates may also have their own gas and oil legislation. For example, Abu Dhabi has the Abu Dhabi Petroleum Law, which complements the Abu Dhabi Petroleum Law.
The Dubai government has also enacted a number of legislation and regulations pertaining to gas and oil in Dubai.
These are some examples:
● The Dubai Petroleum Law governs oil and gas exploration, development, and
production in Dubai.
● The Dubai Gas Law governs gas transportation, storage, and distribution in Dubai.
● The Dubai Oil and Gas Environmental Regulations, which outline the environmental requirements that the oil and gas business in Dubai must adhere to.
The UAE’s oil and gas trading business is a competitive one. In the industry, there are a number of significant and well-established enterprises, as well as a number of smaller companies.
Some of the biggest participants in the UAE’s oil and gas trading business include:
● ADNOC stands for Abu Dhabi National Oil Company.
● Emirates National Oil Company (ENOC) is an acronym for Emirates National Oil Company.
● Dubai Petroleum Corporation (DPC)
● Glencore
● Trafigura
● Vitol
