AMMAN — The Senate’s Energy and Mineral Resources
Committee approved a bill to revoke a law that ratified an oil shale concession
agreement between the government, represented by the Natural Resources
Authority, and the Jordan Oil
Shale Company B.V. (JOSCO) for 2022, as referred
by the Lower House.
اضافة اعلان
According to the Jordan News Agency, Petra, the decision
came during the committee's meeting on Wednesday, chaired by Malik Kabariti. It
was attended by Minister of State for Legal Affairs Nancy Namrouqa.
The bill's was approved after JOSCO terminated the
oil shale concession agreement signed with Jordanian government. The agreement granted JOSCO the
power to terminate the agreement 12 months after the evaluation period and
before the
launch of the pilot, under the stipulation that the company gives 90
days’ notice to the government.
Due to the expiry of the notice period, the concession agreement is deemed
terminated by law.
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