As part of a broad series of austerity measures aimed at plugging the sultanate’s growing budget deficit, a joint council of the State Council and the Majlis Al Shura – both advisory bodies appointed by the sultan – voted on May 26, 2016 to increase the corporate tax rate on liquefied natural gas (LNG) firms from 15% to 55%. The new raft of...
Almost 50 years after the sultanate began shipping oil out of the port at Mina Al Fahal, the country’s economy remains closely tied to the fortunes of hydrocarbons. In 2015 oil and gas together accounted for 33.9% of GDP, 78.7% of government revenues and 59.4% of merchandise exports, according to the Central Bank of Oman.
Investments being made in refining infrastructure are leading to expanded capacity and production, raising questions about how to best make use of this growing resource. Up to three quarters of domestically refined petroleum products are currently used in the country, with a subsidy system that reinforces the market. However, with new capacity...
Though it lacks the petroleum resources of many of its Arab neighbours, Jordan’s hydrocarbons shortfall has led its energy industry to become one of the most progressive and dynamic in the region, with renewables development and nuclear energy set to significantly boost domestic capacity and reduce the kingdom’s fuel bill in the coming years...
The expansion of Jordan’s renewable energy segment has seen a marked acceleration in recent years, with nearly 1000 MW of solar and wind projects currently being implemented. These developments dovetail with a national strategy aimed at raising the share of renewables in the energy mix to 10% by 2020, equivalent to a generating capacity of...
After disruptions to an Egyptian pipeline that had supplied the majority of Jordan’s electricity demand prior to 2011, the Jordanian government is moving to reduce expensive fuel imports and boost domestic generating capacity by building several new power plants. Comprising a diverse energy mix of gas, oil shale and renewable projects, these...
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