Nov 04,2019

AMMAN — Jordan imported 272,000 barrels of oil via 1,088 tankers from Iraq in October under a deal the two countries signed in February, Energy Minister Hala Zawati said on Monday.

The total amount of oil imported from Iraq in October stood at 36,400 tonnes, which were transferred from the Baiji refinery to the Jordan Petroleum Refinery Company in Zarqa at an average of 10,000 barrels a day, Zawati noted in a ministry statement.

These imports covered 7 per cent of the Kingdom’s needs, she said, highlighting the importance of this deal as part of the standing energy cooperation between Amman and Baghdad.

The Energy Ministry, in cooperation with relevant Iraqi authorities, in early September started implementing a memorandum of understanding on purchasing Iraqi oil, according to the statement.

Under the deal, signed by both countries on February 2, Jordan would receive 10,000 barrels of Iraqi crude oil per day at a discount of $16 from the price of Brent Crude (a global price benchmark for crude oil worldwide) per barrel, to cover the difference of transport costs and deviations in standards.

More than 200 individually and corporately owned trucks, 100 from each country, are involved in the transport process.