AMMAN — The
Ministry of Energy and Mineral Resources revealed that it is waiting for a response from Iraqi authorities
regarding the renewal of a
memorandum of understanding (MoU) signed between the
two countries in 2021.
اضافة اعلان
The MoU sees Jordan importing around 10,000
barrels of crude oil per day from Iraq at a discounted rate, according to the
Jordan News Agency, Petra.
DetailsUnder the MoU, Jordan imports 10,000
barrels per day of crude oil from the Kirkuk oil fields in northern Iraq at a
discounted rate of $16 per barrel from the average price of Brent crude to
account for transport costs and quality differences.
The actual loading of the
import of Iraqi crude oil began in September 2021 but was halted for logistical and technical
reasons. Therefore, a deadline of December 31, 2022 was added to the MoU in
order to complete the contracted quantities.
Request for extension grantedOn December 15, 2022,
Energy Minister Saleh Kharabsheh formally requested Iraq to extend the MoU for a second time for a
period of three months, starting on January 1, 2023, and ending on March 31, 2023, with the same contractual terms.
The Iraqi side approved the request.
A total of 4.5 million
barrels were imported into Jordan from Iraq between September 2021 and the end of March 2023
at a pace of about 9,992 barrels per day.
The MoU has been significant for Jordan as
it provides a stable supply of crude oil at a discounted rate, which helps in
reducing the cost of energy in the country.
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