Jordan prolongs suspension of Iraqi crude oil imports amid MoU negotiations

AMMAN — Ministry of Energy and Mineral Resources said on Sunday that the halt to imports of Iraqi crude oil coincided with the expiry of the memorandum of understanding the two countries have signed for that purpose.

Iman Awad the director of oil and natural gas at the ministry emphasised ongoing efforts to secure a three-month extension of the MoU, thereby preserving the existing contractual terms until May 4, 2024.

Awad also noted that the proposed extension is aimed at ensuring the seamless transfer of the agreed-upon quantities of crude oil, contingent upon mutual consent from both parties.

Awad highlighted the ministry’s concerted efforts with the Iraqi counterparts and the Jordanian Embassy in Baghdad to secure the necessary approvals for the extension.

She further noted that upon the completion of the transfer of the full contractual volumes stipulated in the current MoU, the process for signing a new MoU will commence.

At present, Iraqi oil imports account for approximately 7 per cent of Jordan’s crude oil needs.