The regulation, guidance, supervision, and auditing of petroleum
markets are carried out under the provisions of the Petroleum
Market Law No. 5015 ("Law") and related
legislation. In regulating and operating the petroleum market, the
Ministry of Energy and Natural Resources, the Energy Market
Regulatory Authority ("EPDK"), and the
Energy Market Regulatory Board ("Board")
play active roles.
Real or legal persons wishing to operate in the petroleum market
must obtain the licenses enumerated in the Law, which are granted
by EPDK. Technology, quality, safety, service, and the
sustainability of the enterprise are key factors considered when
granting licenses.
1. Refinery License
The Law defines a refiner as a capital company authorized to
carry out refining activities under its license and to trade in
petroleum.