Ministry Relaxes Supervision of Businesses Operating within the Energy and Mineral-Resources Sectors

After receiving input from a number of relevant stakeholders and investors,[1] the Ministry of Energy and Mineral Resources (“Ministry”) has finally issued Regulation No. 48 of 2017 on Business Supervision within the Energy and Mineral-Resources Sector (“Regulation 48/2017”) in a bid to maintain a healthy investment climate, as well as to implement the principles of Good Corporate Governance.[2]
 
Prior to the issuance of Regulation 48/2017, matters pertaining to supervision within this sector were regulated under the following regulations (collectively referred to as “Previous Regulations”):