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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    Kirkuk oil exports to Jordan record 101% increase

    Rocky
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    • Post n°1

    Kirkuk oil exports to Jordan record 101% increase Empty Kirkuk oil exports to Jordan record 101% increase

    Post by Rocky Wed 10 Jul 2024, 5:04 am

    Kirkuk oil exports to Jordan record 101% increase

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    Economy News - Baghdad
    Jordan's total imports of Iraqi oil (from Kirkuk rights) increased by 101% during the first four months of this year.

    According to data from the Iraqi Ministry of Oil, the total of these exports amounted to about 1.81 million barrels until the end of last April, compared to about 900.1 thousand barrels during the same period last year.

    The data indicate that the volume of imports in last April amounted to about 448.6 thousand barrels, while no quantities were recorded in the same month last year for reasons related to the extension of the agreement between the two countries at that time. In

    May, the Jordanian Ministry of Energy and Mineral Resources received approval from the Iraqi side to extend the current memorandum of understanding to supply Iraqi oil to Jordan for a period of 3 months, under the same contractual terms and the same agreed-upon price, i.e. $16 less than the global price, while the Iraqi side was addressed to renew the memorandum of understanding to export Iraqi oil to Jordan for a year, from the date of completion of loading the remaining quantities of the current memorandum of understanding.

    The increase in quantities is mainly due to the increase in contractual quantities, as the rate of supplying Iraqi oil to the Hashemite Kingdom of Jordan has increased since last August, from 10,000 barrels per day to 15,000 barrels, constituting about 15% of the Kingdom's daily need for crude oil, according to the Jordanian Ministry of Energy and Mineral Resources.

    As for the rest of the Kingdom's fuel needs, they are secured through international tenders that are received successively through the ports of Aqaba, or through natural gas pipelines.

    According to the transporting company, these quantities are supplied by 70 to 80 tankers that cross Jordan on a daily basis, equally divided between Jordanian and Iraqi tankers, bringing the total monthly quantities transported to about 450,000 barrels, to be unloaded at the facilities of the Jordan Petroleum Refinery Company.

    Jordan's import of oil from Iraq comes within the framework of a memorandum of understanding signed between the two countries for the first time in February 2019 and extended annually, under which Jordan buys Iraqi crude oil (Kirkuk crude oil) to meet part of its annual needs of this material.


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