Energy Ministry Announces Measures to Secure the Country’s Fuel Needs
The Ministry of Energy announced it will move forward with implementing a fuel import program in cooperation with private-sector companies that have reached agreements among themselves and organized into joint consortium groups.
The step comes within the ministry’s responsibility to secure the country’s petroleum supplies, ensure stable fuel availability in markets, and prevent any potential shortages in supply.
In a press statement issued on Saturday, the ministry revealed that 30 private-sector companies have successfully completed the process of coordination and partnership among themselves, forming five consortium groups. These groups will be included in the fuel import schedule through designated import windows in the coming period, in accordance with the technical and regulatory arrangements approved by the ministry.
As for the nine companies that have not yet finalized their coordination and partnership arrangements, the ministry stated that they will be incorporated into the program once they complete the required cooperation and organizational procedures within a clear legal consortium framework that ensures proper implementation and compliance with the program.
The ministry also affirmed that public-sector companies will continue to perform their planned role in supplying the market with petroleum products, and will intervene to fill any potential supply gaps whenever necessary to ensure the continued stable availability of fuel across the country.
It noted that these measures come in light of ongoing developments and changes in global energy markets, which require the adoption of necessary steps to secure the country’s fuel supplies in the coming period.
The Ministry of Energy reiterated its assurances to citizens that petroleum supplies are secure, adding that work is ongoing in coordination with all partners to guarantee the smooth and regular flow of fuel nationwide.
