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Administrative Fines Applicable in the Petroleum Market in 2026
The administrative fines applicable under the Petroleum Market Law No. 5015 have been redetermined pursuant to the Communiqué on Administrative Fines Applicable in 2026 under Article 19 of the Petroleum Market Law No. 5015, published by the Energy Market Regulatory Authority in Official Gazette No.…
Constitutional Court Again Annuls the Provision on Temporary Suspension of Licensed Petroleum Market Activities for Breaches of the Tax Procedure Law
Under the provision added to the second paragraph of Article 20 of Law No. 5015 by Article 10 of Law No. 7318 Amending the Tax Procedure Law and Certain Other Laws, licence holders’ activities and licences were suspended upon notification to the Energy Market Regulatory…
Minimum Paid-in Capital Requirements Set for Refining, Transmission, Storage, Processing, Distribution and Bunker Delivery Licences
The Regulation Amending the Petroleum Market Licensing Regulation (“Licensing Regulation”), published by the Energy Market Regulatory Authority (“EPDK”) in Official Gazette No. 32709 dated 01/11/2024, provided that the Energy Market Regulatory Board (“Board”) would determine applicants’ minimum paid-in capital and that licences of holders failing…