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Jordan moves to end monopoly of fuel imports

Xinhua, January 4, 2016 Adjust font size:

Jordan signed agreements on Monday with French oil company Total and local company Al Manaseer allowing them to import fuel, putting an end to the Jordan Petroleum Refinery Company's monopoly over the market.

Under the agreements, Total and Al Manaseer will offer a tender each month to buy 45,000 metric tons of diesel for the next six months.

"This is a very important agreement that will last for six months as a trial period," Minister of Energy and Mineral Resources Ibrahim Seif told a press conference. "Then, companies will be allowed to import other types of fuel derivatives gradually."

The minister added that the prices of fuel derivatives will continue to be set by a government committee at the end of each month.

Distribution of oil derivatives will be equally divided between Total, Al Manaseer and the refinery, according to the ministry.

Jordan imports about 97 percent of its energy needs annually. Endit