JPRC achieved profits of JD38.3m in first 9 months 2021

Jordan Petroleum Refinery Company (JPRC) on Monday announced that it had achieved total post-tax profits of JD38.3 million during the January-September period, compared to a net loss of JD31.7 million for the same period last year due to the Covid-19 pandemic-induced repercussions and the complete curfew measures in the Kingdom, Jordan News Agency Petra reported. 

The company said the profits from refining oil and filling gas cylinders totalled about JD17 million, activities from the Jordan Petroleum Products Marketing Company (JoPetrol) yielded profits of JD15.7 million and the lubricants factory generated JD5.5 million.

In a press statement on Monday, the JPRC said its total assets nearly stood at JD1.1 billion by the end of last September.

The "positive" financial results at the end of the third quarter 2021 show the extent of the company's ability to compensate for its 2020 losses, although sales of some materials are still affected by the Covid-19 pandemic in terms of quantity and value, the statement added.

Regarding the 4th refinery expansion project, the JPRC revealed that responses are currently being sent to contractors interested in implementing and funding the expansion, in preparation for preparing their bids expected to be submitted within the next two days.

The date for receiving tenders has been extended 3 consecutive times, at the contractors' request, the company said