Amman: The Jordan Petroleum Refinery Company (JPRC) announced a net profit of JD 75.5 million for the year 2025, marking a slight increase from JD 73 million in 2024. This achievement underscores the company's stable profitability despite facing global market challenges.
According to Jordan News Agency, during its 70th General Assembly meeting, JPRC shareholders approved a 50% cash dividend payout, a decision that reflects the company's robust financial position and its commitment to delivering consistent returns to its investors. The company also allocated JD 5 million to its voluntary reserve and earmarked JD 19.5 million to support its ongoing fourth expansion project, a major refinery modernisation initiative. Provisions were also made to bolster mandatory reserves related to subsidiary activities.
In 2025, JPRC recorded net sales of about JD 1.5 billion, driven by its production of refined petroleum products, liquefied gas, and mineral oils. This underscores the company's crucial role in fulfilling Jordan's energy requirements. Chairman Abdul Rahim Baqai commented on JPRC's sustained leadership in the Kingdom's energy sector, citing the company's resilience in the face of geopolitical tensions and oil price fluctuations.
Baqai highlighted that the company has maintained stable profit margins over the past five years by diversifying its operations and implementing effective strategic planning. He acknowledged the challenges posed by regional conflicts, which have disrupted supply chains and increased shipping and insurance costs. In response, JPRC has increased its inventory, diversified its supply sources, and improved cost efficiency to ensure an uninterrupted fuel supply.
Looking ahead, JPRC plans to expand its exports to neighboring markets as a strategy to diversify revenue streams and strengthen its regional presence. CEO Hassan Hyari reported progress on the refinery modernisation project, which will eventually boast a capacity of 73,000 barrels per day. The upgrade aims to introduce advanced processing units to enhance product quality and convert heavy crude into higher-value products.
The cost of the modernisation project has been significantly reduced to approximately $1.7 billion from an initial estimate of $3 billion, following design revisions. The implementation of the project will follow a roadmap developed by Technip, the project's management consultant.