September 9, 2008

Jordan Renews Preferential Fuel Import Contract With Iraq

An agreement signed in summer 2008 by Jordan with Iraq to import oil at preferential prices has come into effect, according to PetrolWorld which has quoted a weekly report by the Al-Hilal Oil Company.

The Nile Ziyabat Company has been selected to lead a consortium of companies that will transport oil from Iraq to Jordanian refineries for a $15 per barrel charge.

Iraq and Jordan had earlier agreed to renew an oil agreement signed in 2006 for a three-year period. The agreement allows for the import of Iraqi oil by Jordan at preferential prices.

The oil will be imported by the consortium for processing at refineries located in Jordan, from the Iraqi border area of Haditha.