Net profit of NPC reached JD2.8m in 2022

AMMAN — The National Petroleum Company (NPC) in 2022 achieved net profit of JD2.8 million after tax and tax settlements for previous years, marking a profit rate of JD0.191 per share.

Gas sales last year totalled JD15.27 million, compared with JD16.8 million in 2021, marking a decline of JD1.8 million or 10.7 per cent, the Jordan News Agency, Petra, reported.

The quantities of gas sold in 2022 amounted to 5.382 billion cubic feet (bcf) compared to 6.526bcf for 2021, marking a decrease of 17.5 per cent.

The drop is attributed to the 65-day interruption of gas turbines operating in the Risha field following a decision by the government to transfer the ownership of these turbines from the Central Electricity Generation Company to the Samra Electricity Power Company.

As a result of this interruption, the rate of production sold fell to 14.7 million cubic feet per day compared to 17.8 million cubic feet per day in 2021.

At the end of 2022, production capacity reached about 30 million cubic feet.

The NPC's gas sales revenue during 2022 stood at JD12.021 million compared with JD13.090 million for 2021, down by JD1.068 million or 8.2 per cent compared with the previous year.

The company's property rights increased to JD37.2 million in 2022 compared with JD34.4 million in 2021, up by 8.3 per cent, while assets totaled JD47.2 million compared with JD43 million in 2021, which is 8.9 per cent higher.