3m tonnes of crude oil imported in 2016 — report

AMMAN — The Jordan Petroleum Refinery Company (JPRC) imported 2,978,000 tonnes of crude oil and refined 60,000 barrels daily in 2016, according to the government's fuel pricing committee. 

The imports  met 50 per cent of the Kingdom's diesel needs,  42 per cent of gasoline needs and 100 per cent of jet fuel and kerosene needs, while the rest was imported by the three main fuel companies — Total Jordan, Manaseer Oil & Gas and the JPRC's Jordan Petroleum Products Marketing Company.

The committee said on Friday that of each 159-litre crude oil barrel, 30 per cent is refined into diesel, 20 per cent into gasoline, 10 per cent into jet fuel, 3 per cent each into kerosene and gas, 28 per cent into fuel oil and 6 per cent into asphalt. 

When deciding the monthly prices of fuel products, the committee said it depends on the average international price of oil derivatives, not crude oil, over 30 days, with a mechanism approved by the government in 2008 that includes costs of shipment, handling and taxes.

The latest hike to gasoline prices included a 30 fils increase to support the Treasury under “economic correction measures” recently taken by the government.

Last June, the government also decided to impose a fixed Treasury allowance on all fuel products amounting to 25 fils per litre, in line with Jordan’s agreement with the International Monetary Fund.