Details of Petroleum and Petrochemical Law

Logo of Ministry of Energy

The official Umm Al-Qura newspaper published on Friday the details of the new Petroleum and Petrochemical Law, which was recently approved by the Cabinet.

The 22-article law regulates the petroleum and petrochemical operations, and aims to enhance the circular carbon economy, manage greenhouse gases, and increase the private sector's contribution to the petroleum and petrochemical operations.

Further, the law aims to maximize the benefits from the petroleum and petrochemical operations, as well as ensure the security of relevant supplies and compliance with national strategies, plans, regulations, environmental standards, and safety rules.

The law will come into effect 90 days after its publication in the official gazette.