Khaberni - Minister of Energy and Mineral Resources, Saleh Kharabsheh, confirmed on Sunday that prices of oil derivatives and gas have increased globally due to the situation in the region.
Kharabsheh stated in his talk to “Al-Mamlaka” that Prime Minister Jafar Hassan indicated during a cabinet meeting that the rise in prices of oil derivatives would be gradual in the local market.
He pointed out that the gas imported from Noble Energy has stopped since the war began, and as a result, heavy fuel oil is being used to generate electricity.
He highlighted that the use of alternative fuel costs the national company approximately 3 million dinars daily.
Regarding the electricity bill tariff, Kharabsheh said that the electricity prices for March will remain as they are, noting that the cost of using alternative fuel during the current month reached about 100 million dinars.
About local gas projects, Kharabsheh clarified that the National Petroleum Company is working on increasing the production of domestic gas, which will allow for a reduction in future reliance on imports, and connecting the production stations to the Arab Gas Pipeline to maximize the benefits from local production.
The cabinet decided to approve measures to enable the National Electric Power Company to provide the necessary funding to purchase fuel to ensure the continued supply of electricity.
The decision includes raising the ceiling of documentary credits facilities on demand guaranteed by the government for the National Electric Power Company from 100 million dollars to 300 million dollars.
The decision comes amid regional circumstances and challenges faced by the National Electric Power Company and a contribution from the government to raise the ceiling on credit facilities to enable the National Electric Power Company to provide the necessary financing to purchase fuel to ensure the continuation of electricity supply.
According to the decision, the Ministry of Finance will issue a guarantee on behalf of the National Electric Power Company to the bank that will issue the documentary credit letter valued at the increase of 100 million dollars, for the purpose of enabling the company to meet its obligations from documentary credits related to the importation of all types of natural and liquefied gases to maintain the continuity of the electric current.
