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Petroleum Regulatory Act, 2014

An Act regulating the downstream petroleum sector in Sierra Leone — the import, storage, distribution and sale of petroleum products.

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Summary

The Petroleum Regulatory Act, 2014 provides for the regulation of the downstream petroleum sector in Sierra Leone — the importation, storage, distribution, marketing and retail sale of petroleum products such as fuels.

The Act establishes or provides for a petroleum regulatory body and confers functions to license and regulate those engaged in the downstream petroleum business, to set and enforce standards, to oversee pricing and supply, and to protect consumers and ensure security of supply. It provides for monitoring, enforcement, offences and penalties, bringing order and oversight to the fuel market.

Main provisions

  • Provides for a regulator of the downstream petroleum sector.
  • Provides for the licensing of importers, distributors and retailers of petroleum products.
  • Sets and enforces standards for petroleum products and facilities.
  • Oversees pricing, supply and security of supply.
  • Provides for monitoring, enforcement, offences and penalties.