First shipment of Iraqi oil arrives in Jordan

AMMAN — The first shipment of Iraqi oil arrived in the Kingdom on Thursday. The oil comes in implementation of the countries’ new agreement to provide Jordan with 3.7 million barrels of oil, with a daily average of 10,000 barrels, and a $16 discount from the price of Brent crude per barrel.

Burj Al Hayat Transport and Trading Company said that the daily amount represents 10 per cent of the Kingdom’s daily needs, the Jordan News Agency, Petra, reported.

The oil is sent from Baiji in Iraq to the Jordan Petroleum Refinery Company (JPRC) in Zarqa Governorate in 400 tankers from Jordan and 400 from Iraq using the “door-to-door mechanism”. Earlier this year, Jordan and Iraq, during an official visit from a delegation headed by Prime Minister and Minister of Defence Bisher Al Khasawneh to Baghdad, agreed to renew a memorandum of understanding to import Iraqi oil for one year.