By John Lee.
Iraq has re-started the export of crude oil by road to Jordan.
Jordanian Minister of Energy and Mineral Resources, Dr. Saleh Al-Kharabsheh (pictured), announced on Monday that loading had commenced at Kirkuk, instead of the previous site at Baiji.
The memorandum of understanding (MoU), which was signed on 28th January 2021, has been extended until 31st December 2022, in order to complete the transfer of the remaining contracted quantities.
Jordan imported about 2,525 million barrels from Iraq, at a rate of 8,359 barrels per day (bpd), from September 2021 until the end of July 2022. The oil was carried by 9,678 tanker journeys from the site at Al-Siniya/Baiji to Zarqa refinery.
Pricing is based on the monthly average of Brent crude oil minus 16 dollars per barrel, in order to cover the quality difference and transportation costs.
(Source: Jordanian Ministry of Energy and Mineral Resources)