The Jordanian Petroleum Refinery Company (JPRC) is owed cumulative receivables of JD1.07bn ($1.51bn) by a number of Jordanian government entities, JPRC CEO ‘Abd al-Karim ‘Alawin says.
In a presentation to the Minister of Petroleum and Mineral Resources Muhammad Hamid at the refinery this week, Mr ‘Alawin said that the main debtors are the National Electric Power Company (NEPCO) and Royal Jordanian Airlines, who among others, have not paid their debts for over a year. The CEO warned that if the government does not restructure its subsidy for gas and petroleum products and does rectify the issue of debt arrears, the refinery’s operations would be greatly hampered. The 100,000 b/d refinery at Zarqa needs ample liquidity to pay for its crude imports, he stressed. (CONTINUED - 390 WORDS)