Iraq and Jordan sign Energy Agreement

According to a report from AKnews, Iraq's Council of Ministers has agreed to authorize the Minister of Oil to sign a memorandum of understanding with the Ministry of Energy and Mineral Resources in Jordan in the areas of oil and energy.

The five-year agreement includes the construction of a pipeline to transport crude oil and natural gas through Jordanian territory.

Iraqi government spokesman Ali al-Dabbagh said in a statement today:

"[This] shows the keenness of the Iraqi government to develop a clear and appropriate action mechanism to promote cooperation between the two sides in the areas of oil and gas, as Iraq has large reserves of crude oil and natural gas that meet the local demand and export the surplus, in light of the growing need of Jordan to import these materials to support its development plans and meet its needs."

The agreement includes supplying Jordan's crude oil, natural gas, liquefied petroleum gas and heavy fuel oil needs, depending on their availability. It will also see both sides study the types of Iraqi oil that can be refined in Jordan, with the possibility of selling this oil.

(Source: AKnews)

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