Iraq to sell low-priced oil to Jordan
12-08-08 Iraq is to sell low-priced crude oil to Jordan at $ 22 per barrel less than the rate agreed by the two neighbouring states under a 2006 deal.
"After renewing the oil agreement between the two countries during Iraqi Prime Minister Nuri al-Maliki's June visit to Jordan, Iraq has agreed to increase the oil discount from $ 18 a barrel to $ 22 a barrel," said Jordanian Energy Minister Khaldun Qteishat. "Under the renewed deal, Iraq will provide Jordan with 10,000 bpd, or 10 % of Jordan's daily consumption. The figure could be increased to 30,000 bpd," he added.
In August 2006, Iraq agreed to provide Jordan with 10 % to 30 % of its daily oil needs of around 100,000 barrels at a preferential price. Iraq plans to increase oil production from 2.5 mm bpd to 3 mm bpd by the end the year. The oil-rich Arab country also is to almost double the figure to 4.5 mm bpd in the next five years.
King Abdullah II is the first Arab head of state to visit Iraq since the downfall of former Iraqi regime of SaddamHussein in March 2003.
Source: http://www.presstv.ir
