The Dubai government has introduced new regulations to tighten oversight of petroleum products trading, according to a statement. The regulations cover the import, manufacturing, storage, transport, sale, and supply of petroleum products.

Dubai’s Supreme Council of Energy will now oversee petroleum products trading, with responsibilities including setting competition rules, approving technical standards, and ensuring compliance with health, safety, and environmental regulations. It will also manage permits, decide the number and placement of fuel stations under the Dubai Urban Plan, and regulate transport vehicles, storage facilities, and household gas cylinders.

A tighter grip: The Council can also cancel permits, close facilities, revoke licenses, and seize or re‑export non‑compliant petroleum products and vehicles. Offenders must repair damages and restore affected sites at their own expense, with an additional 25% administrative fee if the Council intervenes.

The new regulations add stricter compliance obligations for operators, including a requirement to register with the Energy and Infrastructure Ministry, display prices clearly, and report incidents within 24 hours. Violations carry fines of up to AED 1 mn, with penalties doubled for repeat offenses.

When will this take effect? Existing operators must comply within one year of the resolution’s enactment, with a possible one‑year extension subject to approval.

It’s been in the works for a while: Dubai’s Supreme Council of Energy signed an MoU with The Abu Dhabi Department of Energy signed an MoU during Adipec earlier this month to coordinate petroleum trading regulations and LPG and diesel monitoring, Wam reported at the time. The agreements set a framework to streamline licensing, storage, transport, and inspections in line with safety and environmental standards, and established unified procedures, joint oversight, and data sharing to improve efficiency and transparency, supporting national sustainability goals.

OTHER REGULATION NEWS-

The ADGM Financial Services Regulatory Authority (FSRA) is requesting feedback on new proposed updates to its ins. regulatory framework and requirements for climate-related financial risks, according to a statement. The amendments aim to align regulations with the International Association of Ins. Supervisors’ (IAIS) Ins. Core Principles. Feedback on the consultation paper (pdf) is open until 30 January 2026.

Changes include updates relating to reinsurer selection, the monitoring and reporting of reins. claims, and how reins. contracts would operate in an insolvency scenario, though the proposal does not specify the criteria or processes involved. It also proposes treating ceding insurers and brokers as market counterparties for reins. purposes, removing client-classification requirements, and repealing routine quarterly returns for captive insurers — which are ins. firms set up to provide ins. for their own parent firms — unless requested.

The paper also proposes expanded expectations for ins. special purpose vehicles, referencing investment, collateral, and internal-controls considerations, but without detailing the specific requirements.

Conduct-of-business rules: The FSRA proposes changes to require ins. firms to work only with entities appropriately authorized in their home jurisdictions, set clearer expectations for product development, require the withdrawal of promotional material considered unclear, unfair, or misleading, and clarify when advice must be given, how it must be documented, and when clients should be referred to independent advice.

IFRS 17 and other updates: The FSRA also plans to implement International Financial Reporting Standard 17 (IFRS 17) Ins. Contracts through further amendments, without disclosing details on what that will entail.

Climate-risk requirements: All ins. firms would be required to assess whether climate-related financial risks are material to their businesses, manage any material risks proportionately, factor them into capital adequacy assessments, and make related disclosures.

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