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Jordan Petroleum Refinery Co. posts higher net profit in H1

By JT - Jul 31,2019 - Last updated at Jul 31,2019

AMMAN — The Jordan Petroleum Refinery Company reported a 57.8 per cent increase in its net profit recorded at the end of the first half of 2019, according to the Jordan News Agency, Petra.

Its net profit reached JD23.6 million against JD14.9 million at the end of the same period of 2018, Petra said.

Initial figures released by the company revealed that its sales from both its refinery operations and gas cylinder filling totalled around JD277.7 million, while those of its oils plant generated JD11.5 million. 

In addition, its sales of petroleum products amounted to JD449.3 million. 

The Jordan News Agency added that at the end of June, different government departments and institutions along with electricity companies owed the company the sum of JD675 million. 

The company’s CEO Abdul Karim Al Aween said the firm is taking steady strides towards the implementation of its 4th expansion project, saying several stages have been accomplished.

Initial studies pertaining to the project’s feasibility have been completed. Also, main design plans have been drawn out, he indicated.

The company supplies the local market with its needs of various petroleum products, and contributes to various economic sectors such as electricity, transport, industry and construction, according to its website.

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