Cabinet revokes ratification of ‘Oil Shale’ Distillation Agreement

AMMAN — The Cabinet on Sunday approved the validating reasons for a draft law to revoke the Law of Ratification of the Surface “Oil Shale” Distillation Agreement with the government, represented by the Natural Resources Authority (NRA) and the Karak International Oil Company (KIO) for the year 2023.

The draft law comes as a consequence of the Ministry of Energy and the NRA notifying the company of agreement's termination within 90 days through the Official Gazette, due to the company's breach of its contractual obligations under the concession agreement, and its failure to remove or address the breach at the end of the notice period, without providing any response to the notification, according to the Jordan News Agency, Petra.

The Council of Ministers also approved the National E-commerce Strategy, which aims to create an attractive environment for investments and businesses in e-commerce. It provides income opportunities for citizens, and enhances the competitiveness of micro institutions, SMEs and entrepreneurs through the use of e-commerce solutions and modern technologies to expand locally and globally, as well as facilitating trade and increasing the competitiveness of the logistic services sector. 

As per the Cabinet decision, the Ministry of Industry, Trade and Supply will proceed with implementing the priority procedures for the years 2023-2025 in cooperation with all relevant bodies.