The Petroleum Market Licensing Regulation (the “Regulation”) has recently been amended to extend the scope of activities that can be conducted by distributor and lube oil license holders. This was an expected development since the draft amendments were shared with the industry a few months ago by the Energy Market Regulatory Authority to seek opinions.
Pursuant to the additions and amendments made to the relevant articles of the Regulation, lube oil license holders and distributor license holders who have the lube oil sub-heading included in their licenses can engage in the production of base oils from waste lube oils provided that this is also included in the sub-headings of their licenses although the requirement as to the inclusion of the specific waste lube oil sub-heading will not be enforced immediately. The holders of distributor licences which include the lube oil sub-heading and lube oil license holders will be able to engage in the production of base oils from waste lube oils without including this particular sub-heading in their licenses until 1st January 2018. From that point on, the production of base oils from waste lube oils must be specifically included in their licenses.
License holders who wish to extend their licenses in this regard must apply to the Directorate of the Petroleum Market Department (the “Directorate”). Applications are to be finalized in 15 days as of their acceptance as complete by the Directorate.