Dubai to set up committee to monitor trading of petroleum products

Move is aimed at protecting the environment and ensuring safety and security in the trading of such products

The online meeting was chaired by Sheikh Ahmed bin Saeed, chairman of the Dubai Supreme Council of Energy. Photo: Dubai Media Office

The Dubai Supreme Council of Energy plans to set up a permanent committee to monitor the trading of petroleum products in the emirate to protect the environment and ensure “the highest standards of safety and security” in the trading of such products.

The plan was discussed during an online meeting chaired by Sheikh Ahmed bin Saeed, chairman of the Dubai Supreme Council of Energy, the emirate's media office said on Monday.

Vice chairman Saeed Al Tayer said the council had issued resolution No 3 of 2021 to outline the regulatory framework, strategies and regulations for the trading of liquefied petroleum gas and its derivatives in the emirate.

“In its directive, the Dubai Supreme Council of Energy stipulated the necessity of obtaining its authorisation to issue the permit to complete all approvals and requirements from government authorities in the emirate, according to their respective requirements,” Mr Al Tayer said.

“The Supreme Council will co-ordinate with government authorities to conduct joint inspection campaigns to ensure that workers in this sector follow the directive and apply the highest safety and security standards.”

The meeting also reviewed the savings achieved by the 2030 Dubai Demand Side Management Strategy.

In 2021, savings stood at 6.4 terawatts of electricity, equal to “approximately 12.5 per cent of business as usual”, and about 12.2 billion imperial gallons of water, equal to “9.4 per cent of business as usual”, the council said.

Since 2011, demand-side programmes have contributed to avoiding 14.1 million tonnes of carbon dioxide emissions, leading to savings worth Dh9 billion ($2.45bn), it said.

The emirate plans to reduce carbon emissions by 30 per cent before the end of 2030, as per the plan approved by the Dubai Supreme Council of Energy earlier this year.

The plan is expected to support the UAE’s efforts to achieve the country's net zero ambitions by 2050.

Dubai also plans to raise the share of renewables in its energy mix to 14 per cent by the end of 2022, as part of its target to generate 25 per cent of its energy requirements from renewable sources by 2030 and 100 per cent by 2050.