Jordan received 4 million barrels of Iraqi oil in 10 months

[06-12-2023 03:45 PM]

Ammon News - Ahmad Al Hyari- The value of oil exports from the modern Kirkuk depot in Iraq to Jordan recorded a value of $286.517 million since the beginning of 2023 until the end of last October, according to official data issued by the Iraqi Ministry of Oil.

A data received by Ammon News Agency showed that Iraq exported to Jordan approximately 4.146 million barrels of oil during the first 10 months in 2023, at a rate of 300 million barrels per month, most of which was last October, so that the amount exported from Iraq to Jordan at that time amounted to about 464,728 thousand barrels.

The price of a barrel of oil exported from Iraq to Jordan over the first 10 months of this year ranged between $71,755 per barrel and $91,353 per barrel, according to the data.

The Ministry of Energy and Mineral Resources announced earlier an increase in the quantities of Iraqi crude oil exported to Jordan from 10,000 barrels per day to 15,000 barrels per day.

Iraq agreed to increase the quantities from the beginning of last August, under the same contractual conditions contained in the memorandum of understanding for processing crude oil signed between the Jordanian and Iraqi governments on May 4, 2023.

The Ministry of Energy made the necessary technical and logistical arrangements to transfer quantities from the oil loading site in Iraq, “the modern Kirkuk depot,” to the Jordanian oil refinery in Zarqa. Thus, the monthly quantity exported of Iraqi crude oil to Jordan reached about 450,000 barrels per month, instead of 300,000.

The increase in oil quantities comes as a result of the discussions held during the Prime Minister’s visit at the head of a ministerial delegation to Baghdad on July 24, and reaching a joint consensus to increase the quantities of Iraqi crude oil exported to Jordan.

Jordan's oil bill continues to decline from the beginning of 2023 until the end of last September, reaching JD2.288 billion, compared to JD2.8 billion for the same period last year, according to the monthly foreign trade report issued by the Department of Statistics (DoS).

The Kingdom's imports of crude oil, its derivatives, and mineral oils decreased by 18.3% until the end of last September 2023.

The value of the decline in the oil bill until the end of last September 2023 amounted to about JD512 million, compared to the same period in 2022.

Fuel and mineral oils accounted for the largest share of Jordan’s imports of petroleum derivatives, reaching about JD756 million, followed by crude oil with a value of JD560 million, then gasoline with about 510 million.

Jordan's imports of diesel amounted to approximately JD432 million, in addition to lubricating oils at approximately JD29 million.

It is noteworthy that the quantities imported from Iraq constitute only 7-10% of Jordan’s needs for crude oil and oil derivatives.

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