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.
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.