Iraq resumes oil exports to Jordan after nearly month-long halt

petrol cargo Truck driving on highway hauling oil
(File photo: Jordan News)
AMMAN — The first shipments of Iraqi-exported oil arrived in Jordan on Saturday after being halted on December 24, 2022.  اضافة اعلان

Around 111 tankers loaded with Iraqi oil are expected to cross into Jordan during the day, energy expert Amer Al-Shobaki said.

He added that Iraq's oil import agreement with Jordan was extended, validating it for three months, meaning exports will continue till the end of March.

Exported oil will reach around 10,000 thousand barrels per day, 10 percent of Jordan's daily need, Shobaki said.

Iraq offers preferential prices for the oil exported to Jordan, with a discount reaching $16 under the Brent benchmark, to cover transportation and quality differences, added Shobaki.

Jordan imports Iraqi crude oil under a memorandum of understanding signed between Iraq and Jordan, which has been in force since September 2021.

According to this memorandum, Iraqi crude oil is transported from the Modern Kirkuk warehouse in Iraq to the Jordanian petroleum refinery in Zarqa using tankers.

The number of tankers are distributed equitably between Jordanian and Iraqi companies.

Iraq's continued oil supply agreement with Jordan aids in increasing the value of trade between the two countries.

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