Through the end of August

Iraq approves oil export deal with Jordan

NEWSROOM – Jordan’s Energy and Mineral Resources Minister Saleh al-Kharabsheh announced Sunday that Iraq has approved a request to renew a memorandum of understanding to export crude oil to Jordan.

The renewed agreement increases the export volume to 15,000 barrels per day, up from the previous 10,000 barrels, and will last through the end of August 2024.

Kharabsheh noted that between May 4 and July 30, 2023, Jordan imported around five million barrels of oil from Iraq’s Kirkuk oil fields, benefiting from a $16 discount per barrel compared to Brent prices. He stated that Iraqi oil exports meet 10 percent of Jordan’s oil needs.