Jordan Offers Investment Opportunities for Oil Shale Exploration

Spherical tanks are seen at the Jordan Petroleum Refinery in the city of Zarqa. (Reuters)
Spherical tanks are seen at the Jordan Petroleum Refinery in the city of Zarqa. (Reuters)
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Jordan Offers Investment Opportunities for Oil Shale Exploration

Spherical tanks are seen at the Jordan Petroleum Refinery in the city of Zarqa. (Reuters)
Spherical tanks are seen at the Jordan Petroleum Refinery in the city of Zarqa. (Reuters)

Jordan’s Ministry of Investment announced new investment prospects through the online platform to explore and extract oil shale.

According to the platform, there are more than 18 known oil shale sites in Jordan, including al-Lajjun, al-Sultani, Jurf al-Darawish, al-Attar, Umm al-Ghadran, Wadi Maghar, Suwaqa, Khan al-Zubaib, and al-Thamd.

The investor must develop and invest in infrastructure assets and create new construction opportunities, long-term returns for shareholders, and concession rights.

The data showed that most of the leading oil shale places of proven commercial importance are in central and southern Jordan and can be easily reached via the desert road between Amman and Aqaba.

Oil shale is also found in the areas of Wadi al-Adhiyah, Wadi al-Nadhiyah, Asfir al-Mahatta, the Ghazimah Mountains, Wadi Abu al-Hamam, and most of these areas are close to the infrastructure services necessary for investment.

The data indicated that oil shale is defined as a sedimentary rock in which the organic content (kerogen) is insoluble in organic solvents but instead forms oil-like liquid hydrocarbons when subjected to thermal decomposition at temperatures of up to 500 – 600°C.

Jordan has a sizeable domestic resource of oil shale spread across 60 percent of the Kingdom’s total area, making it the fourth-largest oil shale reserve worldwide.

According to the data provided by the platform, oil shale is a safe and long-term solution to Jordan’s significant energy needs.

Many studies and surveys conducted on the use of oil shale in several locations in Jordan confirmed that the material can be exploited through three paths: heating the deep oil shale to produce oil, distilling the oil shale through surface mining, and direct combustion of oil shale to generate electricity.



WTO: Global Trade Could Climb 3% in 2025 if MidEast Conflicts Contained

FILE - Containers are piled up in the harbor in Hamburg, Germany, Wednesday, Oct. 26, 2022. (AP Photo/Michael Probst, file)
FILE - Containers are piled up in the harbor in Hamburg, Germany, Wednesday, Oct. 26, 2022. (AP Photo/Michael Probst, file)
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WTO: Global Trade Could Climb 3% in 2025 if MidEast Conflicts Contained

FILE - Containers are piled up in the harbor in Hamburg, Germany, Wednesday, Oct. 26, 2022. (AP Photo/Michael Probst, file)
FILE - Containers are piled up in the harbor in Hamburg, Germany, Wednesday, Oct. 26, 2022. (AP Photo/Michael Probst, file)

The World Trade Organization on Thursday nudged up its forecast for global trade volumes this year and said a further pick up to 3% growth was likely in 2025, assuming Middle East conflicts are kept in check.
Global trade recovered this year from a 2023 slump driven by high inflation and rising interest rates, the WTO report said. In April, the global trade watchdog forecast a 2.6% increase in volumes, which it revised up on Thursday to 2.7%, Reuters reported.
"We are expecting a gradual recovery in global trade for 2024, but we remain vigilant of potential setbacks, particularly the potential escalation of regional conflicts like those in the Middle East," said WTO Director-General Ngozi Okonjo-Iweala in a statement.
"The impact could be most severe for the countries directly involved, but they may also indirectly affect global energy costs and shipping routes."
Israel's blitz against Lebanon's Hezbollah in recent weeks, following a year-long war against Hamas in Gaza, has stoked fears of an inexorable slide towards a pan-Middle Eastern war.
The WTO also cited diverging monetary policies among major economies as another downside risk for the forecasts. This "could lead to financial volatility and shifts in capital flows as central banks bring down interest rates," the report said, adding that this would make debt servicing more challenging for poorer countries.
"There is also some limited upside potential to the forecast if interest rate cuts in advanced economies stimulate stronger than expected growth without reigniting inflation," the WTO said.