Manaseer Oil and Gas Is Responsible For Coordinating Gas Import Operation into the Kingdom

Manaseer Oil and Gas Is Responsible For Coordinating Gas Import Operation into the Kingdom

2017-04-27

The responsibility of coordinating oil derivatives' import is transferred from Total Jordan to Manaseer Oils and Gas, effective from the second half of the current year.

Total Jordan led the first stage of the import coordination process, accordingly managed the first and second tender for a year, with respect to implementing the progressive liberalization strategy of oil derivatives market, starting from May 2016, expected to be completed in the current mid-year.

The tender management will be transferred in the second stage to Manaseer Oil and Gas, which will be concluded by the end of this year, thereafter the management will be transformed on later stage to the marketing of Jordanian Petroleum Products Co. (Joptrol).

These companies started last year to use the storage capacity of Oil Refinery in agreement with the concerned refinery, after the government's approval for the concerned companies to import 48 thousand tons of diesel per month distributed equally between the three companies directly from the global market, provided that these imports are in accordance with entry into force of its new specification announced by the Standards and Metrology Organization. 

Moreover, the company started from the beginning of this year importing 955 gasoline, according to an agreement signed earlier with government, aiming at importing all types of oil derivatives, provided that the company is required to start importing gasoline 90 later this year in compliance with the licenses granted by government, which allows to import all types of Petroleum derivatives according to the local market needs.

It is worth indicated that the government's plan of oil derivatives market liberalization aimed at meeting the local market needs of oil derivatives under the supervision of the Ministry of Energy and Mineral Resources and in coordination with the Jordanian Petroleum Refinery by transferring the import process to the private sector through three marketing companies operating in the concerned sector. The activities of coordinating company in connection with import process cover the examination and transmission of tenders, preparation of contracts, concerned placement, apart from logistics related to the import process.

work of the current pricing mechanism provided by the Committee of Pricing Gas, which includes representatives of the Ministry of Energy and Mineral Resources, the Ministry of Finance and Jordan Petroleum Refinery Co.