How to Start an Oil and Other Petroleum Products Trading Business with Meydan Free Zone

Khaled Ahmed

Khaled Ahmed

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The oil and petroleum products trading sector contributes a significant part of Dubai’s economy. Dubai, strategically located between Europe, Asia, and Africa, is a central hub for oil and petroleum trading activities. Wholesale of solid, liquid, and gaseous fuels and related products (4661.00), Refined Oil Products Trading (4661.91), Jet Fuel Supply Services (4661.93), Fuel Supply Services (4661.94), Diesel Fuel Trading (4661.98), Petrol Station Equipment Trading (4773.57) are some of the major Oil, and Other Petroleum Products Trading Business are the major business activities you can conduct with Meydan Free Zone.

With Meydan Free Zone, the oil and other petroleum products trading business involves buying, selling, and distributing various petroleum products, including crude oil, gasoline, diesel, jet fuel, liquefied petroleum gas (LPG), and other refined products. With your trading license from Meydan Free Zone, you can play a crucial link in the global oil supply chain, connecting producers and consumers from different regions.

4661.00 Wholesale of solid, liquid, and gaseous fuels and related products 

Apply for a business license under Other specialized wholesale and choose business activity Wholesale of solid, liquid, and gaseous fuels and related products with activity code 4661.00. This activity should be combined only with any other business activity with the code 4661.9X in the Meydan business activity list. 

Wholesale trade licenses from Meydan Free Zone allow you to trade a wide range of solid, liquid, and gaseous fuels and related products. The items you can buy or sell include products such as charcoal, coal, coke, fuel wood, naphtha, crude petroleum, crude oil, diesel fuel, gasoline, fuel oil, heating oil, kerosene, liquefied petroleum gases (LPG) like butane and propane gas, as well as lubricating oils and greases, and refined petroleum products. 

For example, you can wholesale charcoal, used frequently for grilling and cooking. Additionally, you can trade coal, a significant component in manufacturing and energy production. Coke, derived from coal, is another product that you can wholesale. Fuel wood, used as a fuel source for heating and cooking, can also be traded under the license.  Moreover, you can trade wholesale liquid fuels like naphtha, crude petroleum, diesel fuel, gasoline, fuel oil, heating oil, kerosene, and LPG such as butane and propane gas. In addition, lubricating oils and greases can also be part of your trading activities, serving as vital components for machinery maintenance. Also, the license allows for the wholesale trading of refined petroleum products, encompassing a range of products obtained through refining crude oil. 

In addition, by selecting the Wholesale of fuels, greases, lubricants, oils business activity with code 4661.01, you can exclusively engage in the wholesale trading of fuels, greases, lubricants, and oils within the Meydan Free Zone. This specific activity code ensures that your business focuses solely on the wholesale distribution of these products. Meydan Free Zone provides a suitable platform for conducting such trading operations, offering a favorable business environment and opportunities to connect with potential clients and partners in the industry.

Inclusions

With your wholesale of solid, liquid, and gaseous fuels and related products trade license from Meydan Free Zone, you can engage in the wholesale of fuels, greases, lubricants, and oils such as ™ charcoal, coal, coke, fuel wood, naphtha, crude petroleum, crude oil, diesel fuel, gasoline, fuel oil, heating oil, kerosene, liquefied petroleum gases, butane and propane gas, lubricating oils and greases, refined petroleum products. Please note that this activity should be combined only with any other business activity with the code 4661.9X in the Meydan business activity list.

Third-Party Approvals – Pre-license

Wholesale trading in solid, liquid, and gaseous fuels in Dubai requires approval from Supreme Petroleum Council before a license is issued.

4661.91 Refined Oil Products Trading

Apply for a business license under Other specialized wholesale and choose business activity Refined Oil Products Trading with activity code 4661.91.

With your Refined Oil Products Trading license from Meydan Free Zone, you can trade various oil products derived from refining crude oil and find applications in petrochemical industries. This license allows you to sell various refined oil products, including methanol, urea, olivine, fuels for airplanes and ships, kerosene, fuel oil, sulfur and nitrogen compounds, and heavy products like tar, oil, and wax. 

For instance, you can trade methanol, which serves as a valuable chemical in producing formaldehyde, acetic acid, and other chemicals and can also be used as a solvent and fuel additive. Urea, another product, finds extensive use as a fertilizer in agriculture. Furthermore, you can supply olivine, a mineral used in refractory bricks and metallurgical processes. 

Additionally, your license enables the trade of fuels designed explicitly for airplanes and ships, such as jet and marine fuels. Moreover, you can trade heavy oil-derived products like tar, heavy oil, and wax, which have diverse industrial uses. 

Inclusions

With your  Refined Oil Products Trading from Meydan Free Zone, you can trade oil products derived from converting crude oil in refineries to use in petrochemical industries. You can sell products such as methanol, urea, and olivine, or fuels for airplanes and ships, kerosene, fuel oil, sulfur, and nitrogen compounds, or heavy products such as tar, heavy oil, and wax.

Exclusions

With your license as a trader of Refined Oil Products, you are not permitted to sell diesel or gasoline.

Third-Party Approvals – Pre-license

Refined Oil Products Trading in Dubai requires approval from the Department of Petroleum Affairs (DPA) from The Ruler’s Court before a license is issued.

4661.93 Jet Fuel Supply Services 

Apply for a business license under Other specialized wholesale and choose business activity Jet Fuel Supply Services with activity code 4661.93.

Your Jet Fuel Supply Services trade license from Meydan Free Zone allows you to supply fuel, lubricants, and other similar operational materials to air transport companies.

Third-Party Approvals – Pre-license

To engage in Jet Fuel Supply Services trading in Dubai, obtaining approval from the Dubai Civil Aviation Authority (DCAA) is a prerequisite before a license is issued. The DCAA is the regulatory body responsible for overseeing aviation-related activities and ensuring compliance with aviation regulations in Dubai. This approval process is essential to ensure that businesses involved in jet fuel supply services meet safety, security, and operational standards.

The DCAA assesses various factors before approval, including the company’s operational capabilities, infrastructure, safety regulations compliance, and environmental standards. In addition, the authority conducts thorough inspections and evaluations to verify that the applicant meets all the requirements for operating in the jet fuel supply sector.

Once the DCAA approves the business, you can proceed with obtaining a trade license for your Jet Fuel Supply Services from Meydan Free Zone.

4661.94 Fuel Supply Services

Apply for a business license under Other specialized wholesale and choose business activity Fuel Supply Services with activity code 4661.94.

With your Fuel Supply Services trading license from Meydan Free Zone, you can provide fuel supply services to various sectors, including sea and land transport companies, industrial firms, and power generating plants. This license allows you to supply fuel, lubricants, and other similar materials required for operating machinery and equipment in these sectors. As a fuel supplier, you play a crucial role in ensuring the uninterrupted operation of vehicles, machinery, and power plants.

In Dubai, the business license for Fuel Supply Services is regulated by the Dubai Municipality, which has the authority to establish and enforce rules and regulations governing this sector.

Third-Party Approvals – Pre-license

To conduct Fuel Supply Services trading in Dubai, obtaining approval from the Dubai Maritime City Authority (DMCA) is required before your license can be issued. The DMCA is the regulatory body responsible for overseeing and managing maritime activities in Dubai.

The approval process involves submitting an application to the DMCA and providing all the necessary documents and information related to your fuel supply services trading operation.

4661.98 Diesel Fuel Trading 

Apply for a business license under Other specialized wholesale and choose business activity Diesel Fuel Trading with activity code 4661.98.

A Diesel Fuel Trading license issued by Meydan Free Zone allows the holder to resell diesel fuel to various industrial and commercial corporations. With this license, you can buy diesel fuel from suppliers and then resell it directly to industrial and commercial corporations needing fuel for their vehicles, ships, planes, or industrial and marine equipment. However, this license restricts you from reselling diesel fuel directly to customers.

It’s crucial to familiarize yourself with the rules and guidelines set by the Meydan Free Zone and other relevant third-party authorities governing the diesel fuel trading industry in your area of operation.

Inclusions

With your  Diesel Fuel Trading license from Meydan Free Zone, you can resell diesel fuel directly to industrial and commercial corporations for fueling vehicles, ships, planes, or industrial or marine equipment.

Exclusions

Your Diesel Fuel Trading license does not allow you to resell diesel fuel directly to customers.

Third-Party Approvals – Pre-license

To conduct Diesel Fuel Trading in Dubai, you need additional approval from the Department of Petroleum Affairs of The Ruler’s Court before your license is issued. The Department of Petroleum Affairs of The Ruler’s Court oversees Dubai’s petroleum industry and related activities. They establish and enforce regulations to ensure the safe and lawful trading of petroleum products, including diesel fuel.

4773.57 Petrol Station Equipment Trading 

Apply for a business license under Retail sale of other goods in specialized stores and choose business activity Petrol Station Equipment Trading with activity code 4773.57.

With a business license for Petrol Station Equipment Trading obtained from Meydan Free Zone, you have the authority to engage in the business of reselling fuel dispensers, which are used for pumping fuels into vehicles at petrol stations. Additionally, your license allows you to offer various related services, including installation, repair, and maintenance of the equipment you deal in.

As a holder of this license, you can source a wide range of fuel dispensers from manufacturers or suppliers and resell them to petrol stations, automotive service centers, or other businesses involved in fuel distribution. Moreover, your license enables you to offer installation services, ensuring that the purchased fuel dispensers are properly set up at the customer’s location. This may involve connecting the dispensers to fuel storage tanks and establishing appropriate piping systems.

Furthermore, you can provide repair and maintenance services for the fuel dispensers you sell. This includes addressing issues or malfunctions over time, conducting routine inspections and maintenance tasks, and ensuring the dispensers are in optimal working condition.

Third-Party Approvals

The trading of Petrol Station Equipment Equipment in Dubai does not require third-party approvals.

ESR  

Performing business activities such as Wholesale of solid, liquid, and gaseous fuels and related products (4661.00 ), Refined Oil Products Trading (4661.91), Jet Fuel Supply Services (4661.93), Fuel Supply Services (4661.94), Diesel Fuel Trading (4661.98), Petrol Station Equipment Trading (4773.57) does not involve any regulatory obligations like UBO or ESR. 

AML  

Anti-Money Laundering (AML) regulations do not apply to business activities Wholesale of solid, liquid, and gaseous fuels and related products (4661.00 ), Refined Oil Products Trading (4661.91), Jet Fuel Supply Services (4661.93), Fuel Supply Services (4661.94), Diesel Fuel Trading (4661.98) and Petrol Station Equipment Trading (4773.57). 

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