AMMAN - The Energy Ministry has granted the initial approval to establish a petroleum refinery and petrochemicals complex in Maan with a daily capacity of 150,000 barrels for export purposes, Ministry Spokesperson Mashhour Abu Eid said on Tuesday.
He added that the initial approval stipulates that the investor abide by the terms endorsed by the Cabinet in early 2019, which require the company to abide by proper technical and financial guidelines without requiring the government to present any guarantees to secure raw materials for the refining process.
The terms also exempt the government from any financial and contractual obligations, whereas the refinery will work on a commercial basis with marketing companies that have the right to import and sell oil derivatives in the Kingdom, the Jordan News Agency, Petra, reported.
The terms also call for taking into consideration the Aqaba terminal's capacity to accommodate the imported raw oil and the needs of the Jordan Petroleum Refinery Company, Abu Eid noted.
The approval also stipulates that the investor must secure the plot of land for establishing the refinery and complex, and that the ministry is free of any obligations in this regard, the spokesperson added.
The terms also highlighted the importance of abiding by the oil derivatives law.
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