Oil and Gas Industry Regulations Around the World
The oil and gas industry is one of the most heavily regulated industries in the world. Regulations in this sector are constantly changing, and companies must stay on top of the latest developments in order to stay competitive and avoid costly penalties. This article takes a look at the regulations that govern the oil and gas industry around the world, with a particular focus on the regulations in the United Arab Emirates (UAE). The UAE has one of the most advanced oil and gas regulatory systems in the world. The framework of the regulatory system is made up of two main components: the Federal Law on the Regulation of the Oil and Gas Industry (Federal Law No. 15 of 2019) and the Abu Dhabi National Oil Company (ADNOC) regulations. The Federal Law provides a broad overview of the regulations governing the oil and gas industry in the UAE, while the ADNOC regulations provide more specific guidance on how companies should operate in the UAE. The Federal Law outlines the legal framework...