Gov’t sells share in Kingdom’s only oil refinery

AMMAN — The Jordanian Petroleum Refinery Company has announced the purchase and payment of the government’s stake in the company’s assets and assets in the city of Aqaba and airports for JD20.4 million ($28.7 million). اضافة اعلان

The disclosure was made on the Amman Stock Exchange website on April 25.

Details of the agreementThe payment was made according to the agreement to terminate the company’s concession, which was signed between the government and the Petroleum Refinery Company, reported Al-Arabiya.

The decision was made in implementation of the Cabinet’s directive. The value of the agreement was determined by the government-appointed advisor, Chan Oil Investments, at market value.

The Jordanian Petroleum Refinery Company has been operating the only oil refinery in Jordan since 1956, which was established in 1957.

However, its production does not currently meet all of Jordan's petroleum product needs, and the country must rely on imports from other countries.


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