Iraq begins exporting oil to Jordan

Iraq has begun exporting oil to Jordan for the first time since Saddam Hussein was removed from power following the US lead invasion of the country in March.

    Iraqis protest outside the oil ministry in Baghdad

    One million barrels of  Iraqi crude oil arrived in the Jordanian Red Sea port of Aqba earlier today.

    The Jordanian energy ministry struck a deal in October to buy 2.6 million barrels of Iraqi oil for domestic use, costing more than $70 billion.

    The energy ministry spokesman,  Khaldun Qtaishat told AFP news agency that the oil would be transported by sea from Iraq's oil port of Mina Al-Bakr near Basra to Aqaba.

    Khaldun insisted that the shipments of oil were bought at the world market price and not preferential rates.

    Prior to the US lead invasion of Iraq, Jordan imported almost all its 5.5 million tonnes of oil from Iraq.

    The Iraqi supplied half of Jordan's oil for free, and the rest at a discount price. In reply, Jordan allowed Iraqi access through the port of Aqba.

    The invasion of Iraq meant that Jordan was forced  to seek oil supplies elsewhere at the market price costing the country and estimated $1bn. 

     

    SOURCE: AFP


    YOU MIGHT ALSO LIKE

    How different voting systems work around the world

    How different voting systems work around the world

    Nearly two billion voters in 52 countries around the world will head to the polls this year to elect their leaders.

    How Moscow lost Riyadh in 1938

    How Moscow lost Riyadh in 1938

    Russian-Saudi relations could be very different today, if Stalin hadn't killed the Soviet ambassador to Saudi Arabia.

    The great plunder: Nepal's stolen treasures

    The great plunder: Nepal's stolen treasures

    How the art world's hunger for ancient artefacts is destroying a centuries-old culture. A journey across the Himalayas.