The Ministry of Energy and Mineral Resources said it is following up with Iraqi authorities the issue of renewing the Memorandum of Understanding (MoU) on crude oil supply signed between the Jordanian and Iraqi governments.

The two sides are currently negotiating some provisions of the MoU, a ministry informed source said.

The import of Iraqi oil comes within the framework of the MoU signed between the two countries in February 2019, under which Jordan imports about 10,000 barrels per day, which covers 7 per cent of the Kingdom’s daily demand, according to a price equation linked to the price of Brent crude minus the transport costs and specifications differences.

The Ministry of Energy and Mineral Resources said it is following up with Iraqi authorities the issue of renewing the Memorandum of Understanding (MoU) on crude oil supply signed between the Jordanian and Iraqi governments.

The two sides are currently negotiating some provisions of the MoU, a ministry informed source said.

The import of Iraqi oil comes within the framework of the MoU signed between the two countries in February 2019, under which Jordan imports about 10,000 barrels per day, which covers 7 per cent of the Kingdom’s daily demand, according to a price equation linked to the price of Brent crude minus the transport costs and specifications differences.