Media ININ Economy We Trust
Media In / Agencies / Amman 28 March 2018
The Board of Directors of Jordan Petroleum Refinery Company approved the consolidated financial statements of the Company for the fiscal year ended 2017. The Board of Directors resolved to recommend to the General Assembly the distribution of 20% of the paid up capital, the amount of 200 fils per share.
The net profit of Jordan Petroleum Refinery Company was JD 32.2 million at the end of last year, after deducting the income tax provision at KD 5.6 million. The company recommended deducting 10% of the net annual profits of Jordan Petroleum Marketing Company’s activity for the compulsory reserve account. When he stopped deducting 10 percent of the annual net profit for the rest of the company’s activities.
The company, which sent it to the Amman Stock Exchange, said it recommended allocating JD8.8 million to the voluntary reserve account and allocating JD8.8 million to the private reserve account for the fourth expansion project. The net operating income of Jordan Petroleum Refinery last year was KD 1.7 billion.
The board of directors of the company decided to invite shareholders to attend the ordinary meeting of the General Assembly at 11:00 am on Monday, April 30, and the Board also decided to invite shareholders to attend an extraordinary meeting after the end of the ordinary meeting of the General Assembly directly to approve the recommendation of the Board of Directors to add To the company’s goals set forth in its by-laws allowing it to guarantee and guarantee the subsidiaries or its subsidiaries with the banks and the companies and entities requesting the guarantee of Jordan Petroleum Refinery Company in its dealings with the subsidiaries or its subsidiaries.
The Chief Executive Officer of Jordan Petroleum Refinery Company, Eng. Abdulkareem Al-Alwain, announced the company’s positive steps towards the implementation of the fourth expansion project, stressing that the company is proceeding as planned.
Al-Olaween said that the refinery is a strategic and value-added company for the national economy in terms of its supply to the state treasury, in addition to the relative weight of the listed company in the Jordanian stock market.
He stressed that the Petroleum Refinery Company employs competencies in the development of its activities in addition to the introduction of modern technologies to keep pace with international practices.
