Government plans state oil company development
The government has approved an amended draft law for the Petroleum Authority Law, which includes the establishment of a government-owned oil company aimed at enhancing governance and achieving reform in the oil sector. The functions of regulation and supervision will be separated from operational tasks such as purchasing, transportation, and distribution, while the role of private companies in distributing petroleum products will continue. This step is part of a long-term strategy to improve the sector's performance, aligning with the experiences of other countries like Palestine, and involves further consultations with relevant stakeholders.
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