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SAPIA Petroleum policy and Economics - INDIVIDUAL ASSIGNMENT Title: The structure and Regulatory Framework of the downstream industry in southerly Africa 1. INTRODUCTION This paper ordain explore the regulatory environment that the downstream industry currently operates in. This will touch on the surgical procedure of each structure as puff up as pertinent roles and responsibilities. The different policies and acts within each authoritative structure which supports their alter objectives will be dissected and further elaborated on. at last the effects that current regulation has on the industry will be discussed as well as how possible alternatives could more(prenominal) effectively assist the industry in relation to the states demand for liquid fuels. Overall it will ask at the environment that the industry operates in as well as the legal effects, laws, policies and restrictions that govern it. 2. CURRENT STRUCTURE & regulatory FRAMEWORK The industry is regulated by the Department of Minerals and Energy and monitored by the Parliamentary Portfolio Committee. The industry has been regulated since the 1930s to provide a balance between the needs of the various interest groups. genuine agreements, mostly unsigned, also exist and are in force.

Policy often creates a framework and its intent is to be proactive (anticipating problems ahead of time) and are pliable (can change from time to time). The gabardine paper is the final document that we call a policy. 2.1DME The giving medication currently regulates the Refining, Wholesaling, Storage and retailing of the industry. Price control: The attend of Minerals and Energy has power to prescribe the price, or a supreme/minimum price at which petroleum product may be sold or bought by any person, and conditions nether which these sales occur. The price control is based on the prefatorial Fuel Price (BFP) formula which replaced the In-Bond Landed Cost (IBLC). well-nigh of the policies/acts that exist to regulate the industry are: 2.1.1... If you want to get hold of a full essay, order it on our website: Ordercustompaper.com

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