Iraq sanctions US$25mn oil grant for Jordan

barrel  barekimIraq has decided to extend an oil grant to Jordan worth a total of US$25mn

Jordan’s minister of state for media affairs and communications, Mohammad Momani, said that the Jordan government appreciated the “brotherly” stance that Iraq had taken towards Jordan and the efforts it had exerted to help the country overcome its economic issues.

Momani added that Jordan was looking forward to boosting economic ties with Iraq, particularly with regard to mega-projects that would serve the interests of the people of both countries.

The minister said that an ongoing oil pipeline project would allow Baghdad to export crude oil via Jordan’s southern port of Aqaba while providing Jordan with its oil requirements.

In November last year, Iraq granted Jordan 100,000 barrels of crude oil.

According to official figures, Jordan’s daily oil needs have been estimated to be around 100,000 barrels. Jordan currently imports around 98 per cent of energy that it needs.

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