
Jordan's cabinet on Sunday approved the signing of an agreement with a Canadian energy company to develop oil shale, the state-run Petra news agency reported.
The council of ministers said the Canadian company Questerre Energy Corporation expressed willingness to invest around 1.4 billion U.S. dollars in the project, the report said.
The approval is part of the government's efforts to rely on local resources and utilize oil shale reserves.
As part of the deal, the company will conduct studies in two areas in the south of Jordan to develop oil from oil shale.
The firm will start conducting initial technical and geological studies to come up with a feasibility study.
Jordan, which has over 40 billion tons of oil shale in reserves, imports currently about 96 percent of its energy at a cost of 2.8 billion dollars annually, or 21 percent of its gross domestic product.
The country is implementing a strategy to increase self-produced energy to meet 60 percent of its consumption by 2020.
GMT 12:00 2018 Wednesday ,28 November
6th Gulf Intelligence Oman Energy Forum opensGMT 13:32 2018 Thursday ,22 November
Russia's Sovcomflot considers acquiring LNG-fueled shipsGMT 08:21 2018 Monday ,19 November
Russia expects new joint energy projects with VietnamGMT 09:34 2018 Sunday ,18 November
US, Japan, Australia, NZ to bring electricity to Papua New GuineaGMT 11:38 2018 Thursday ,08 November
World Bank member offers 71 mln USD for building wind power plant in JordanGMT 12:27 2018 Friday ,02 November
Proportion of renewable energy reaches 38 per cent in GermanyGMT 12:26 2018 Friday ,02 November
Proportion of renewable energy reaches 38 per cent in GermanyGMT 07:01 2018 Tuesday ,09 October
First high-level renewable energy conference to kick off in Cairo TuesdayMaintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Send your comments
Your comment as a visitor