Petroleum storage licence renewal allowed two months before expiry

Renewing a licence for the storage of petroleum and petroleum products can be processed two months ahead of the expiry, according to the Ministry of Natural Resources and Environmental Conservation.
The licence will expire on 31 December this year and the extension of licences for the coming year must be done two months (between 1 November and 31 December) before the expiry, according to the Petroleum and Petroleum Product Rules-119.
Those who fail to renew the licence during the set period must be fined two per cent of licence fee per day starting from 1 January 2024.
The application for licence extension, storage licence permit, the copy of the last survey record of the Department of Mines and the documentary photos of the condition of tank farms must be presented while renewing licence, the ministry stated. — TWA/MKKS