15 Jan 2015
(MENAFN) The United Arab Emirates Energy Ministry said that the Gulf countries, led by both the United Arab Emirates and Saudi Arabia, are formulating a new law to stop fuel smuggling, The Peninsula Qatar reported.
Smuggling of fuel, including diesel, gasoline and other products, is frequent across the borders of some Gulf Arab states, where different levels of fuel subsidies create price gaps which are then exploited by the smugglers.
“The ministry is working on a law to prevent smuggling of diesel or other products. Saudi is also working on a similar law and some neighboring countries also where it is subsidized,” The UAE’s Energy Minister said.
The Ministry said that they are considering ways to eliminate smuggling, which one way suggested is for governments to adjust the billions of dollars of subsidies which they pay make the prices of fuel similar to each other.
02 Jul 2025
BBK launches the largest-ever Al Hayrat Prizes, offering BD 5 million to over 2,000 winners
12 May 2025
Alsharifi: “Proud of our strategic partnership with the Royal Humanitarian Foundation”
04 May 2025
BBK offers exclusive Mortgage Loans for luxury villas and apartments on Reef Island
30 Apr 2025
BBK discloses its financial results for the first quarter ended 31st March 2025
25 Mar 2025
BBK’s General Assembly Approves 35% Cash Dividend Distribution to Shareholders
This website uses cookies to ensure you get the best experience and by clicking “I Accept” below, you consent to the use of cookies. Learn more