Jordan Refiner Gets Payments From Power Companies, Al Arab Says

Jordan Petroleum Refinery Co. (JOPT) received 165.5 million dinars ($233 million) owed by several power companies, Al Arab Al Yawm reported, citing Chief Executive Officer Abdul Kareem Alaween.

The kingdom’s only refinery near Amman hopes more debts will be settled in order to help pay outstanding dues to importers of crude and oil products, Alaween said, according to the newspaper.

The refiner said June 23 it may have to stop importing fuel unless it starts receiving 633 million dinars owed by the Jordanian government and power companies. The plant has capacity of 90,400 barrels a day, according to data compiled by Bloomberg.

To contact the reporters on this story: Mohammad Tayseer through the Amman newsroom at nrazzouk2@bloomberg.net; Nayla Razzouk in Amman at Nrazzouk2@bloomberg.net

To contact the editor responsible for this story: Stephen Voss at sev@bloomberg.net

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