Fuel price ceilings to follow fixed tax, says energy minister

Amman, Minister of Energy and Mineral Resources, Hala Zwati, said the fixed tax approved by the Cabinet is the penultimate stage in the oil derivatives market liberalization program, which will be followed by setting fuel price ceilings.

The government’s decision to unify the tax on oil derivatives by fixing its value means that it will not rise now or in the future if prices rise, Zawati said in an interview with “Petra”.

In regard to the assessment results of the gas well discovered in Reeshah region, the minister noted the latest discovery in the field casts light on the “reliable Jordanian manpower” to develop it, which once produced 30 million cubic feet of gas per day, and decreased to 9 million and spiked recently thanks to the new well to 16 million.

On the Hamzah field in the Azraq area, Zwati noted the field is “promising” and the government asked the National Petroleum Company (NPC), as a specialized government company, to rehabilitate the field’s wells to increase the quantities of production.

In a related context, the minster said the government has announced several areas in the Kingdom, namely (Jafr, Alsarhan, the northern highlands and the Dead Sea) for gas and oil exploration to companies wishing to invest in the sector.

Source: Jordan News Agency