JOPT registers JD54 million net profits in 2019

The Jordan Petroleum Refinery Company (JOPT) recorded net profits of JD53.9 million in 2019, compared to JD42.7 million during the same period in 2018, according to its disclosure data posted on Amman Stock Exchange (ASE) website.

The JOPT's financial relationship with the government has ended since May 2018, which set a ceiling for the company's profit by JD15 million annually, after reducing the cost of the Indian cylinders, its disclosure said.

The company has been operating on commercial bases with refining activity and filling gas cylinders and is still continuing to reduce the cost of the Indian cylinders, which halts at the 2020, the JOPT pointed out.

The profits, the company announced, were due to its sales of petroleum products, adding it is continuing in addressing the pending issues with the government, which may have a financial impact on its final outcomes.

Source: Jordan News Agency