Kingdom boosts strategic oil reserve with 2nd shipment of 30,000 tonnes of gasoline — Energy minister

AMMAN — An oil vessel laden with 30,000 tonnes of gasoline, the second shipment aimed at enhancing the strategic reserve of oil derivatives, has arrived in the Kingdom, Energy Minister Hala Zawati said on Sunday.

This shipment contributed to filling the storage capacities at the Amman Strategic Terminal in Al Madouneh, Zawati said, noting that this reserve is only used in emergencies or as necessary, while the operational reserve imported by oil companies feeds the market on a daily basis.

The minister said that these 30,000 tonnes of gasoline and the 50,000 tonnes of diesel that the Kingdom received some 10 days ago increased the reserve at the Amman Strategic Terminal by 24 per cent, according to a ministry statement. 

She also noted that the Kingdom took advantage of the drop in international oil prices to increase its strategic reserve according to the available capacities at Al Madouneh.

The reserves of oil derivatives in all reservoirs, public and private, are estimated to be sufficient for two to six months, depending on the type of derivative and the daily consumption rate, the minister said. 

Jordan Oil Terminals Company (JOTC) Director General Kholoud Mahasneh said that the company floated a tender to buy needed quantities on May 5, noting that these amounts would boost Jordan's sufficiency and ability to deal with emergencies.  

The Amman Strategic Terminal includes six reservoirs for diesel with a total capacity of 204,000 tonnes, four reservoirs for unleaded 90-octane gasoline with a total capacity of 136,000 tonnes and two reservoirs for unleaded 95-octane gasoline with a total capacity of 36,000 tonnes.

The site also includes two reservoirs for jet fuel with a total capacity of 44,000 tonnes and five reservoirs for liquefied gas whose overall capacity is 10,000 tonnes. 

The UAE funded the project with $210 million as part of the Gulf grant to the Kingdom through the Abu Dhabi Fund for Development.