Kingdom received 3.4 million barrels of Iraqi oil as per agreement so far

AMMAN — Jordan, until Tuesday, received 3.4 million barrels of Iraqi oil as per an agreement granting Jordan a $16 discount from the price of Brent crude per barrel, the Jordan News Agency, Petra, reported.

The agreement — which entered into force at the beginning of 2022 — will expire by the end of December, head of the oil tanker company Nael Thiabat said on Wednesday, noting that the extension or renewal of the agreement is on the table, according to Petra.

Jordan imports 10,000 barrels daily from the Kirkuk refinery via 500 oil tankers. During October alone, Jordan was supplied with 340,000 barrels, he noted.

Thiabat commended the coordination and cooperation between both countries, highlighting joint interest in easing obstacles that hinder oil transportation. 

Both countries, two years ago, signed an agreement meant to supply Jordan with 3.7 million barrels of Iraqi oil to meet 7 per cent of Jordan's annual crude oil needs.

The cost per barrel is based on the average monthly price of Brent oil, with an additional charge of $16 per barrel to cover quality and transport fees without the discount afforded to Jordan.