Iraq Business News: Iraq Increases Oil Sales and Discount to Jordan

Iraq Business News All the latest business news from Iraq

Iraq Increases Oil Sales and Discount to Jordan Oct 3rd 2012, 16:50 By John Lee. Iraq is to increase export oil exports to Jordan from 10,000 barrels per day to 15,000 bpd at a discounted price, Jordanian Energy Minister Alaa Batayneh said. Following repeated requests by the kingdom, the two countries have agreed that Iraq will sell the additional 5,000 barrels a day at a discount of $18 per barrel. Under the agreement, Jordan, which imports around 95 percent of its energy needs, will also import Iraqi natural gas, but the price and amount have not been mentioned. In May 2011, Jordan announced it had asked Iraq to raise its oil supply to 30,000 barrels per day to compensate for the loss of Egyptian gas. (Sources: Middle East Online, Aswat al-Iraq)

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