Jordan wants to build a refinery at Aqaba, to process Iraqi crude from a planned pipeline linking Basra to the Red Sea-facing port, as the country aims to reduce its energy imports by 2020, its oil minister said on Tuesday.
"Currently the refinery [at Zarqa] is being upgraded. If there will be a pipeline from Iraq, we will be looking to build a new refinery in Aqaba," Hala Zawati said. "[We're building] another one so that white product can be immediately exported through Aqaba."
She did not provide any details on the cost of building the project. White Spirit, commonly known as turpentine, is a by-product produced during the oil refining process.
The Jordanian cabinet in February approved a million barrel per day pipeline that sources oil from southern Iraqi fields in Basra. The country is currently undertaking a $1.6 billion expansion of its sole refinery at Zarqa to boost capacity to 120,000 bpd.
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Read more:
Iraq could transport up to 1 million barrels of oil per day via Jordan's Red Sea port
Jordan approves Iraq pipeline, as Baghdad looks for alternative export routes
Jordan awards oil shale concessions as it looks to energy independence
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Ms Zawati said that of the million bpd transported via the planned pipeline, Jordan’s consumption would be around 150,000 bpd.
"[The Iraqis] are excited today about the pipeline as they were excited before, but the political situation did not allow for that to materialise, but we hope that they will mobilise on this project. There will be talks very soon. Jordan cannot use all the capacity of the line,” she said.
Jordan had already begun importing Egyptian gas on an “experimental basis”, with plans under way to increase the offtake in 2019. "There are negotiations on how much will be pumped and we hope that one-third of the country’s requirements will be taken from Egypt,” said Ms Zawati.
The country’s natural gas consumption would be around 350 million cubic per day, much of it met through the liquefied natural gas terminal in Aqaba, as well as from Egyptian gas.
Construction of the pipeline sourcing gas from Israel’s massive Leviathan field is ongoing and would become “operational in 2020”, she said. “It depends on the development of the field and the readiness of Israel to export,” said Ms Zawati.
Tel Aviv and Amman, which have a peace treaty, agreed to transfer $10bn worth of natural gas via a 65km-pipeline from Israel. Once operational, the gas will be connected to an existing line in Mafraq, and then distributed to the kingdom’s power plants to generate electricity.
Jordan's fiscal balance deteriorated as a result of its import bill and dwindling grants and financial aid after oil prices slumped in 2014. In June, the UAE, Kuwait and Saudi Arabia extended a $2.5 billion aid package to the kingdom to help stabilise its economy. The country's unemployment stands at 18.7 per cent of the population, according to rating agency Moody’s.
External debt is equivalent to about 72 per cent of gross domestic product, and the country's economy expanded 2 per cent in 2017. Earlier in 2018, Jordan suffered its biggest protests in years, prompted by price hikes, subsidy cuts and other fiscal measures taken by the government to reduce debt.
Jordan will also look to reduce its energy imports to 84 per cent from 95 per cent by 2020, according to Ms Zawati who cited increased activity in the kingdom’s oil shale programme.
"We will be going from 95 per cent of energy imported today to 84 per cent in 2020, and this is dependent on projects currently being built on the ground,” she said.
Jordan, according to the World Energy Council, has the world's eighth largest reserves of oil shale, which is not to be confused with shale oil. It is formed of organic fine-grained sedimentary rock, from which oil can be extracted through heating. The kingdom wants to lessen the burden of energy imports that continues to widen its fiscal deficit.
Ms Zawati revised up Jordan’s oil shale reserves to fourth-largest in the world and said the country was targeting start-up of a project with an Estonian company by 2020.
"This is what we’re looking for companies and developers that come and invest in oil shale."
Shell has been working in Jordan alongside three other companies. The tech for two of the companies has been identified, and we’re hoping that they would be able to close the finance very soon,” she said.
In February, Jordan's energy ministry awarded a Saudi company 40-year rights to extract two oil shale reserves.
The agreement with Amman's Karak International Oil as well as the Saudi Arabian Corporation for Oil Shale would produce 25,000 bpd and 30,000 bpd of crude respectively, from deposits in the Lajoun and Umm Ghadran areas, with 2,500 bpd targeted at the initial phase, the ministry said at the time.
More from Rashmee Roshan Lall
Read more about the coronavirus
Defence review at a glance
• Increase defence spending to 2.5% of GDP by 2027 but given “turbulent times it may be necessary to go faster”
• Prioritise a shift towards working with AI and autonomous systems
• Invest in the resilience of military space systems.
• Number of active reserves should be increased by 20%
• More F-35 fighter jets required in the next decade
• New “hybrid Navy” with AUKUS submarines and autonomous vessels
The language of diplomacy in 1853
Treaty of Peace in Perpetuity Agreed Upon by the Chiefs of the Arabian Coast on Behalf of Themselves, Their Heirs and Successors Under the Mediation of the Resident of the Persian Gulf, 1853
(This treaty gave the region the name “Trucial States”.)
We, whose seals are hereunto affixed, Sheikh Sultan bin Suggar, Chief of Rassool-Kheimah, Sheikh Saeed bin Tahnoon, Chief of Aboo Dhebbee, Sheikh Saeed bin Buyte, Chief of Debay, Sheikh Hamid bin Rashed, Chief of Ejman, Sheikh Abdoola bin Rashed, Chief of Umm-ool-Keiweyn, having experienced for a series of years the benefits and advantages resulting from a maritime truce contracted amongst ourselves under the mediation of the Resident in the Persian Gulf and renewed from time to time up to the present period, and being fully impressed, therefore, with a sense of evil consequence formerly arising, from the prosecution of our feuds at sea, whereby our subjects and dependants were prevented from carrying on the pearl fishery in security, and were exposed to interruption and molestation when passing on their lawful occasions, accordingly, we, as aforesaid have determined, for ourselves, our heirs and successors, to conclude together a lasting and inviolable peace from this time forth in perpetuity.
Taken from Britain and Saudi Arabia, 1925-1939: the Imperial Oasis, by Clive Leatherdale
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Monster
Directed by: Anthony Mandler
Starring: Kelvin Harrison Jr., John David Washington
3/5
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UAE currency: the story behind the money in your pockets
Financial considerations before buying a property
Buyers should try to pay as much in cash as possible for a property, limiting the mortgage value to as little as they can afford. This means they not only pay less in interest but their monthly costs are also reduced. Ideally, the monthly mortgage payment should not exceed 20 per cent of the purchaser’s total household income, says Carol Glynn, founder of Conscious Finance Coaching.
“If it’s a rental property, plan for the property to have periods when it does not have a tenant. Ensure you have enough cash set aside to pay the mortgage and other costs during these periods, ideally at least six months,” she says.
Also, shop around for the best mortgage interest rate. Understand the terms and conditions, especially what happens after any introductory periods, Ms Glynn adds.
Using a good mortgage broker is worth the investment to obtain the best rate available for a buyer’s needs and circumstances. A good mortgage broker will help the buyer understand the terms and conditions of the mortgage and make the purchasing process efficient and easier.
Trolls World Tour
Directed by: Walt Dohrn, David Smith
Starring: Anna Kendrick, Justin Timberlake
Rating: 4 stars
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Dubai Bling season three
Cast: Loujain Adada, Zeina Khoury, Farhana Bodi, Ebraheem Al Samadi, Mona Kattan, and couples Safa & Fahad Siddiqui and DJ Bliss & Danya Mohammed
Rating: 1/5
ABU%20DHABI'S%20KEY%20TOURISM%20GOALS%3A%20BY%20THE%20NUMBERS
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Lexus LX700h specs
Engine: 3.4-litre twin-turbo V6 plus supplementary electric motor
Power: 464hp at 5,200rpm
Torque: 790Nm from 2,000-3,600rpm
Transmission: 10-speed auto
Fuel consumption: 11.7L/100km
On sale: Now
Price: From Dh590,000
THE SIXTH SENSE
Starring: Bruce Willis, Toni Collette, Hayley Joel Osment
Director: M. Night Shyamalan
Rating: 5/5
MANDOOB
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HWJN
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Killing of Qassem Suleimani
Killing of Qassem Suleimani
From Zero
Artist: Linkin Park
Label: Warner Records
Number of tracks: 11
Rating: 4/5
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Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
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How much do leading UAE’s UK curriculum schools charge for Year 6?
- Nord Anglia International School (Dubai) – Dh85,032
- Kings School Al Barsha (Dubai) – Dh71,905
- Brighton College Abu Dhabi - Dh68,560
- Jumeirah English Speaking School (Dubai) – Dh59,728
- Gems Wellington International School – Dubai Branch – Dh58,488
- The British School Al Khubairat (Abu Dhabi) - Dh54,170
- Dubai English Speaking School – Dh51,269
*Annual tuition fees covering the 2024/2025 academic year
BEACH SOCCER WORLD CUP
Group A
Paraguay
Japan
Switzerland
USA
Group B
Uruguay
Mexico
Italy
Tahiti
Group C
Belarus
UAE
Senegal
Russia
Group D
Brazil
Oman
Portugal
Nigeria
Company info
Company name: Entrupy
Co-founders: Vidyuth Srinivasan, co-founder/chief executive, Ashlesh Sharma, co-founder/chief technology officer, Lakshmi Subramanian, co-founder/chief scientist
Based: New York, New York
Sector/About: Entrupy is a hardware-enabled SaaS company whose mission is to protect businesses, borders and consumers from transactions involving counterfeit goods.
Initial investment/Investors: Entrupy secured a $2.6m Series A funding round in 2017. The round was led by Tokyo-based Digital Garage and Daiwa Securities Group's jointly established venture arm, DG Lab Fund I Investment Limited Partnership, along with Zach Coelius.
Total customers: Entrupy’s customers include hundreds of secondary resellers, marketplaces and other retail organisations around the world. They are also testing with shipping companies as well as customs agencies to stop fake items from reaching the market in the first place.
Company%C2%A0profile
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Checks continue
A High Court judge issued an interim order on Friday suspending a decision by Agriculture Minister Edwin Poots to direct a stop to Brexit agri-food checks at Northern Ireland ports.
Mr Justice Colton said he was making the temporary direction until a judicial review of the minister's unilateral action this week to order a halt to port checks that are required under the Northern Ireland Protocol.
Civil servants have yet to implement the instruction, pending legal clarity on their obligations, and checks are continuing.
The Bio
Hometown: Bogota, Colombia
Favourite place to relax in UAE: the desert around Al Mleiha in Sharjah or the eastern mangroves in Abu Dhabi
The one book everyone should read: 100 Years of Solitude by Gabriel Garcia Marquez. It will make your mind fly
Favourite documentary: Chasing Coral by Jeff Orlowski. It's a good reality check about one of the most valued ecosystems for humanity
