JPRC reports 20% hike in 2019 profits

AMMAN — The Jordan Petroleum Refinery Company (JPRC) on Monday announced that its profits by the end of 2019 went up by 20 per cent to reach JD44.2 million after tax, compared with JD36.9 million by the end of 2018.

According to figures announced by the JPRC and cited by the Jordan News Agency, Petra, profits covered various company activities. Refinement and gas cylinder filling accounted for JD14.7 million of the total profits, while oil factory activity generated JD7.6 million and marketing and selling oil derivatives generated JD21.9 million.

The JPRC said that the net sales values from refinement, filling gas cylinders, oils and marketing oil derivatives before deducting sales costs, expenses and tax reached JD1.35 billion in 2019, compared with JD1.62 billion in 2018.

Despite the exceptional circumstances the global economy is witnessing due to the COVID-19 pandemic, the JRPC-owned Jordan Petroleum Products Marketing Company (JoPetrol) has continued its efforts to open new stations, the company said.

The JPRC also noted that the total amounts owed to the company by government departments, the National Electric Power Company and Royal Jordanian Airlines totalled JD285 million by the end of 2019.