Jordan discusses deal renewal to import oil from Iraq
The Jordanian Minister of Energy and Mineral Resources, Saleh Kharabsheh, revealed that Jordan is talking with Iraq about renewing an agreement to import crude oil.
Kharabsheh explained that the step is consistent with the first Memorandum of Understanding signed between Jordan and Iraq in May 2023, according to The Jordan Times.
The Jordanian minister clarified that Jordan imported approximately five million barrels of oil from a storage facility in the northern Iraqi governorate of Kirkuk between May 4 and July 30, 2023.
According to Kharabsheh, Jordan imports crude oil from Iraq and processes it at the Jordan Petroleum Refinery Company (JPRC).
Iraq’s crude oil exports to neighboring Jordan represent only seven percent of Jordan’s crude oil needs.
The Iraqi government authorized an increase in daily crude oil shipments to Jordan, lifting the limit from 10,000 to 15,000 barrels starting in August 2023.
Following the authorization of the Iraqi government, Iraq’s monthly crude oil exports to Jordan jumped from 300,000 barrels to approximately 450,000 barrels, representing 10 percent of Jordan’s requirements.
