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Iraq exported 11,000 oil barrels to Jordan in daily May, $15 below market price

Category: Economy

Date: 2022-06-02T10:11:02+0000
Iraq exported 11,000 oil barrels to Jordan in daily May, $15 below market price

Shafaq News/ Iraq exported 353,973 barrels of crude oil to Jordan at a value of $34,423,874 in May 2022, State-owned Oil marketer, SOMO, surveyed.

Iraq began exporting crude oil by truck at preferential prices to Jordan in 2012, at a rate of approximately 10,000 barrels per day. The agreement was initially concluded in the early 1980s, and continued during the period of the siege of Iraq in the 1990s. Successive Iraqi governments did not roll back the agreement even after the US invasion of Iraq

"11,000 barrels were exported to Jordan daily at an average of 97.25 dollars a barrel," SOMO said.

The Jordanian government revealed in February 2019 that one of the agreement’s provisions is that Jordan" buys from Iraq about 10,000 barrels of crude oil per day at a discount rate of $16 per barrel."

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