Jordan imported 300,000 barrels of Iraqi oil in June

Average daily import of 10,000 barrels and selling price of $58.70 per barrel recorded

pump jack oil
(File photo: Jordan News)
AMMAN — The marketing data of the oil company "SOMO" revealed on Monday the total amount of Iraqi oil imported by Jordan in the month of June. According to data carried by Hala News, Jordan imported approximately 300,000 barrels of oil from Iraq last month. اضافة اعلان

This comes as a result of the resumption of Iraqi oil supplies to Jordan under an agreement reached between the two governments in May of last year.

The data provided by the oil marketing company indicates that Jordan imported an average of 10,000 barrels of oil per day during the past month.

Furthermore, the financial data published by the company shows that the initial weighted average selling price for Jordanian oil reached approximately $58.70 per barrel.

Agreement details
The resumption of oil supplies between Jordan and Iraq comes as a result of a bilateral agreement signed in May of last year.

The agreement, known as the Jordanian-Iraqi Agreement to Resume Oil Supplies, aimed to facilitate the supply and transportation of crude oil between the two countries.

Under the terms of the agreement, Jordan imports 10,000 barrels of oil per month, with the price based on the monthly Brent crude rate minus $16 per barrel. This price adjustment is intended to cover the quality difference and transportation costs associated with the oil imports.

The Ministry of Energy and Mineral Resources has reported that this quantity of imported oil represents approximately 7 percent of the Kingdom's crude oil needs.

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