Jordan’s Iraqi Crude Oil Imports Stop as MoU Expires

Amman, May 12 (Petra) — Jordan’s imports of Iraqi crude oil have been suspended following the expiry of a bilateral memorandum of understanding (MoU) with Iraq, signed on April 5, 2023, according to a statement from the Ministry of Energy and Mineral Resources on Sunday.

Iman Awad, the Director of Oil and Natural Gas at the Ministry, conveyed that Jordan has proposed extending the existing MoU for an additional three months under identical conditions to complete the transfer of contracted oil volumes. The extension is pending mutual approval, following its scheduled expiry on April 5, 2024.

Awad noted that the Ministry is actively working with Iraqi authorities and through the Jordanian embassy in Baghdad to obtain the requisite approvals for the extension.

She further indicated that discussions for a new MoU would begin following the completion of all deliveries under the current agreement. Imports from Iraq account for approximately 7 percent of Jordan’s total crude oil consumption.

//Petra// AA
12/05/2024 13:56:49