Iraq says ready to discuss new oil deal with Jordan
Iraq is ready to discuss with Jordan a new oil agreement that might include increasing its fuel supply to the Kingdom, Iraqi Minister of Commerce Abdul Falah Sudani announced on Wednesday.
Sudani told the Jordan News Agency, Petra, yesterday that Iraq is ready to provide the Kingdom with oil through Um Qasr port in southern Iraq, or Jihan port in southern Turkey.
He added that the Iraqi oil ministry and the Jordanian government have to take some administrative procedures in order to transport the oil to the Kingdom through these ports, especially since the memo signed between the two countries in 2006 stipulates transporting the oil overland.
The Iraqi official stressed that his country is ready to reach a new agreement with Jordan in this regard, noting that there are no obstacles except for some security concerns, Petra reported.
Sudani added that Iraq is also willing to increase the volume of oil supplied to Jordan, which, under the 2006 memo, ranged between 10-30 per cent of its daily requirements of 100,000 barrels.
In a meeting with Minister of Industry and Trade Amer Hadidi yesterday, the two sides discussed providing the Kingdom with part of its oil needs under the memo, the implementation of which has been hampered by the prevailing security situation in Iraq.
The two countries signed the agreement in 2006 during a visit by former prime minister Marouf Bakhit to Baghdad.
Iraq offered the essential commodity at a preferential rate of $18 per barrel below market price.
Jordan Times