Jordan’s energy minister denies licensing new marketing company for oil derivatives

Economy

Published: 2020-06-29 10:40

Last Updated: 2020-06-29 11:28


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The Minister of Energy and Mineral Resources, Hala Zawati, has denied that a new marketing company for oil derivatives has been approved in Jordan.

The ministry said a number of fuel union members had established a company and applied for a licence to market oil derivatives in a statement on Sunday, June 28.

Zawati had met with founders of the company to clarify it must demonstrate its technical and financial solvency to obtain a licence from the ministry.

In 2013, the Ministry of Energy and Mineral Resources licensed three companies to market oil derivatives in Jordan, granting them an exclusive deal for a period of three years, which ended in May 2016.

Two new companies were entered talks regarding obtaining a licence in September 2018. One of which was qualified and submitted an official request to the authority to obtain a licence, but the company is still in negotiations.