Jordan Reports Iraqi Oil Imports in April

Jordan imported approximately 324,000 barrels of oil via 1,114 tankers from Iraq in April, at an average of 11,000 barrels per day, Energy Minister Hala Zawati said on Sunday.

The total amount of Iraqi crude oil received by the Jordan Petroleum Refinery during the September 2019-April 2020 period amounted to 2.44 million barrels at an average of 10,000 barrels per day, Zawati noted in a ministry statement.

The minister said that Iraqi oil tankers unload the crude oil into Jordanian tankers at the border between the two countries, in line with the government’s precautionary measures to halt the spread of the novel coronavirus.

The import of Iraqi oil comes within the framework of a memorandum of understanding (MoU) signed between the two countries under which Jordan buys Iraqi crude oil (Kirkuk crude oil) at an average of 10,000 barrels per day to meet part of its annual needs.

Iraqi crude oil is sold to Jordan on the basis of the average monthly price of Brent crude, from which the difference in transport costs and the difference in specifications are deducted.

Iraq has approved a plan to provide Jordan with 10,000 barrels of oil daily from Baiji in Iraq to the Jordan Petroleum Refinery Company via tankers. Under the MoU, the oil covers 7% of the Kingdom’s daily demand.