JoPetrol expansion project to nearly double refining capacity — CEO

AMMAN — Investment Minister Khairy Amr on Thursday stressed the importance of the Jordan Petroleum Refinery Company (JoPetrol) and its fourth expansion project.

During a visit to JoPetrol’s headquarters in Zarqa, in the presence of its CEO Abdulkarim Alaween, Amr said that this project is vital and will enhance energy security. 

He stressed the government’s support for such schemes that contribute to developing the infrastructure and priority products, according to a ministry statement. 

The minister also checked on the phases the company is conducting to implement the expansion project, in addition to JoPetrol’s operational plans. 

Alaween stressed that the company constantly modernises and develops all of its facilities, reiterating that achieving the highest safety levels is a top priority at JoPetrol, where safety tops production in terms of priorities.

He also said that the company refines, on a daily-basis, Saudi and Iraqi oil and some 200 barrels from the Hamza field. 

The CEO also highlighted the importance of JoPetrol in the Kingdom to control the local oil market and ensure the availability of fuel derivatives, in addition to its community and training role.

He added that JoPetrol has some 2,000 employees and some 2,500 oil tanker drivers who work at companies transferring oil from the Aqaba port to its headquarters in Zarqa. 

Alaween noted that the fourth expansion project is scheduled to increase the refining capacity from 60,000 barrels per day to almost 120,000 barrels, with a total cost of $2.64 billion. The project will help meet the increasing demand for fuel derivatives in the local market, he added. 

As for shareholders in the company, he said that citizens account for the highest percentage with 64 per cent, the Social Security Corporation for 20 per cent, while the government’s share is less than 2 per cent. The company has up to 35,000 shareholders.