First shipment of Iraqi crude oil to arrive on Tuesday | Business | Ammon News


First shipment of Iraqi crude oil to arrive on Tuesday


[8/31/2019 7:35:02 AM]

AMMONNEWS - The first shipment of Iraqi crude oil is set to arrive in Jordan on Tuesday as part of a deal under which the Kingdom will buy 10,000 barrels a day of Iraq's Kirkuk oil at benchmark crude Brent prices minus transport costs, Minister of Energy and Mineral Resources Hala Zawati announced on Saturday.

The minister said in a statement that loading of tanker trucks in Kirkuk has already started and the shipment is expected to arrive on Tuesday to the Jordan Petroleum Refinery in Zarqa. Zawati added that the daily shipments of Iraqi crude oil to Jordan will not exceed 10,000 barrels a day, comprising 7 percent of the Kingdom's needs, in the first stage but could be increased pursuant to future agreements.

According to the minister, more than 200 tankers from Jordan and Iraq will participate in the shipping process, 50 percent each, including truck tankers owned by citizens (individuals) and companies working in the transport of crude oil.

She said that cooperation between Jordan and Iraq in the energy domain is not limited to importing crude oil only, noting that the two countries are working to complete the necessary procedures for the establishment of an oil pipeline extending from Iraq's Basra to the port of Aqaba.

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