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Fri Sep 13, 2019 11:53 am
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Jordan negotiates Iraq to increase crude imports
Economy News - Baghdad
Jordanian Minister of Energy and Mineral Resources Hala Zawati said on Saturday that her country will negotiate with Iraq soon to increase the quantity of Iraqi crude oil imported to Jordan, amounting to 10,000 barrels per day.
Zawati said in a statement quoted by the "New Arab" and seen by the "economic news," that "oil shipments began to flow from Iraq as of Thursday, through tanks landing at the Jordanian oil refinery, under the agreement signed between the two sides in February last year."
He added that "imported quantities constitute only 7 per cent of Jordan's consumption of crude oil, to be negotiated later to increase the quantity."
Under the memorandum of understanding, Jordan buys Kirkuk crude at prices equivalent to Brent crude, deducting the cost of transportation and specification teams. The minister pointed out that the number of tanks transporting Iraqi oil is 200 tankers out of 500 contracted through the Jordanian company Al-Hayat Transport Company and its partners, which won the bid to transport crude oil.
The Jordanian minister stressed that "this agreement will revive the transport and land transport sector between the two countries and the operation of shops and services along the road between Amman and Baghdad." The Iraqi Council of Ministers, which provides Jordan's crude needs and provides an export port for Iraqi oil to other countries. "
Zawati pointed out "to continue work to complete the electrical link between the two countries."
Iraq agreed to exempt more than 340 Jordanian goods from customs duties, and began work to establish a joint economic zone on the border between the two countries, while finally decided to exempt goods supplied to Iraq from the port of Aqaba by 75 percent.
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