The Jordan Oil Terminals Company (JOTC) on Tuesday denied that it had purchased, sold or traded petroleum products in the local market at any time, guaranteeing its status as an independent storage provider in its Aqaba and Amman terminals, to ensure services are provided on a fair, reasonable and non-discriminatory basis.
Speaking to Petra, JOTC said that the Company is responsible for storing and managing Jordan’s strategic stock of petroleum products by developing a strategic stock policy to guarantee the security of oil supply, and to ensure that Jordan meets the international obligations concerning the quality of petroleum products and crude oil.
“To verify quality assurance, the JOTC has assigned a specialized international firm to establish Third-Party laboratories for testing commodities in many phases, as per the best international practices in the downstream oil industry; to make sure it conforms to Jordan’s approved petroleum regulations and technical standards,” it added.
Founded in 2015, JOTC is a private shareholding company, wholly owned by the Government of Jordan, that serves to guarantee the security of the Kingdom’s oil supply, and to promote competition in the petroleum market through providing its services to customers according to the open-access principles.
Source: Jordan News Agency