35.5 Million Dinars Total Profits

The financial statements for the first half of 2021 issued by the Jordan Petroleum Refinery Company revealed a total profit of 35.5 million dinars for the period for the first half of this year, while the tax deduction amounted to about 6.1 million dinars.

The company achieved profits from its various activities, as the profit before tax resulting from the refining and filling gas cylinders activity was about 18.2 million dinars, and from the activity of the Petroleum Products Marketing Company 12.5 million dinars and 4.7 million dinars from the oil factory, and after deducting the tax, the company’s profit amounted to the amount of 29.4 million dinars.

The data indicated that the company had recorded losses of about 56 million dinars during the same period last year, as a result of the closures imposed by the government for a period exceeding two months to prevent the Corona virus.

The company said that in light of the recovery in the prices of crude oil and oil derivatives, and as a result of the gradual return of life to normal, in light of the adaptation of the countries of the world to coexistence with the Corona pandemic, its indicators began to show a clear improvement, confirming its ability to compensate for its losses achieved in 2020, although the sales of some Materials are still affected by the pandemic in terms of quantity and value.

With regard to the fourth expansion project, the company revealed that inquiries from contractors interested in implementing and financing the project are currently being answered, in preparation for preparing their offers, which are expected to be received in mid-September of this year, as the date for receiving offers has been extended to September 15 instead of July 15, based on The contractors requested, especially since 50 experts conducted a field visit to inspect the site of the project and the existing refinery.

With regard to the project financing procedures, the company said that after completing the preparation of the documents requested by the investors, the company's financial advisor began contacting its major shareholders and investors wishing to contribute to the financing of the project, knowing that the necessary documents requested by the investors were completed to be provided upon request.

In parallel, the Jordan Petroleum Products Marketing Company wholly owned by the Jordan Petroleum Refinery Company continues its development and expansion path by opening and managing new stations, in addition to developing systems, applications, payment methods and orders to serve all customers' requirements.

On the same track, the Mineral Oil Factory continues to work on purchasing and installing production lines to fill oil bottles of different sizes. Work is also underway to modernize the Mineral Oils Laboratory by purchasing new and modern testing devices in order to raise the level of reliability and qualify it to examine mineral oils to raise the level of after-sales.