An oil importer must be a limited liability corporation.
The aforesaid business must construct or lease an oil storage facility with a capacity exceeding the security stockpile prescribed in Article 24 herein.

Before importing oil, a business must submit an application to the central competent authority for an establishment permit. This application must state the company name and location, scope of business along with the name and domicile or residence of the person responsible for the business. An oil storage plan as well as a sales or use plan must be attached.

A business may not import oil until it has obtained an operation license from the central competent authority to do so. A business must submit the following documents to apply for said operation license:
1.Company license.
2.Documents verifying that the oil storage facility has the capacity to comply with the security stockpile requirement as specified in Article 24 herein. If the facility is leased, lease documents must be provided as evidence.
3.Other documents as required and promulgated by the central competent authority.

The types of oil or petroleum products that can be imported by licensed importers are limited to those approved by the central competent authority. The preceding provision does not apply to oil refinery operators who obtained their operation licenses prior to the complete opening of the oil market to imported products.

Manufacturers of petrochemical feedstock may apply to the central competent authority for special permission to import petroleum products for private use. The application submitted must state the particulars listed below. In addition, a factory registration permit along with a business registration permit and must be attached to the application.
1. The types and volume of petroleum products to be imported along with the planned use period for them.
2. The production process.
3. The types, volume, and proportions of petrochemical materials to be produced.
4. The types, volume, and proportions of petroleum by-products to be produced.
5. The use status of the most recent petroleum products imported for private use, including import types, volume, actual volume used, types and volume of petrochemical materials produced, types and volume of petroleum by-products produced, and their actual export or sales.
The petroleum by-products produced by such a manufacturer must be either exported or purchased by oil refinery operators.
The exporter of the aforesaid petroleum by-products must be properly registered in accordance with Article 15 herein.
If the manufacturer mentioned in the first paragraph is in any of the situations described in either Item 1 of the first paragraph of Article 45 or of Items 1, 2, 4, or 7 of Article 50 herein, the central competent authority will withhold the approval of this manufacturer's application for six months starting from the day after the penalty is imposed on the manufacturer.
An oil or non-oil business that imports petroleum grade solvent oil or lubricant must file a report with the central competent authority within ten days of any importation. The report must state the name and location of the principal business, the name and domicile or residence of its responsible person, the types, quantity, and usage of the product imported. Imports by petrochemical enterprises sanctioned by the industrial authority are exempt from this provision.

If a business meets any of the conditions listed below, it may apply to the central competent authority for special permission to import petroleum products. The application must include the name and location of the principal business, the name and domicile or residence of the responsible person, and types along with the volume of the petroleum products to be imported.
1.If an oil refinery operator needs oil for a trial run.
2.If a petrochemical feedstock manufacturer needs petroleum products for a trial run.
3.If an establishment needs oil for research and testing purposes.
4.If an establishment needs to import petroleum products for special applications that are either not produced domestically and if products of similar specifications are not available domestically.
5.If an establishment needs to import less than one kilogram of a petroleum product (other than gasoline or diesel oil) packed in a container.

Crude oil imported by a licensed importer can only be supplied to the oil refinery as feedstock, unless the crude oil is otherwise approved under special case status.
Naphtha imported by a licensed importer can only be supplied as feedstock to the oil refinery or manufacturer of petrochemical feedstock, unless the naphtha is otherwise approved under special case status.
Gasoline, diesel oil, or LPG suppliers as well as their customers may not supply their petroleum products to following targets:
1. Gasoline stations or LPG station operators not set up according to this law.
2. Private gasoline, LPG filling or storage facilities not set up according to this law.
3. LPG wholesale distributors, packing companies, and retailers not set up according to this law.
Oil or non-oil businesses may not sell solvent oil, lubricant, or other volatile hydrocarbon compounds as fuels for motor vehicles or machinery.

To set up an oil export business, an application must be submitted to the central competent authority. The application must state the name and location of the principal business, its scope of business, the name and domicile or residence of the person responsible for the business. An export plan for the business must be attached. A business is not allowed to start an oil export operation until its application has been approved and a registration certificate issued by the central competent authority.
Due to the unexpected accident in domestic oil market that resulted in the imbalance of oil supply or any doubt of that, central competent authority then can restrict the oil exporter to export the oil.
As for the determination, restricted duration, conditions and methods of the imbalance of oil supply or any doubt of that aforesaid shall be promulgated by the central competent authority, dissolve is likewise.
Export of oil by a non-oil business for research and testing purposes should require the approval of the central competent authority under special case status.

Due to the unexpected accident in domestic oil market that resulted in the imbalance between oil supply and demand or any doubt of that, the central competent authority can levy fees as a means to raise the Petroleum Fund on oil exporters for their export of oil. The amount and period of the aforesaid fees shall be promulgated by the central competent authority; dissolution is likewise.