Jordan studies its need for Iraqi oil
Jordan-Iraq, Economics, 12/10/1997

Jordan is trying to assess the amount Iraqi of oil need each year in preparation for the start of negotiations with Iraqi officials to renew an annual agreement in this regard.

Official sources in Jordan confirmed that Jordan will be ready to negotiate with the Iraqi side by the end of this month. Jordan receives its need for Iraqi crude oil, estimated at 80,000 barrels a day, and refines the oil in Jordanian refineries.

The sources said that a number of issues will be discussed with Iraqi officials such as Jordanian oil needs and the price of Iraqi crude oil.

Jordan gets oil from Iraq through a special exemption from the international embargo imposed on Iraq. Jordanian needs of the Iraqi crude oil increased from 30,000 barrels a day in 1991 to about 70,000 barrels a day in 1993, and to 80,000 barrels a day in 1997. The price of the Iraqi oil also increased from $17 per barrel in 1993 to $19.5 per barrel in 1997. This is a special price that is lower than the international oil price.

The source said that those negotiations will be concurrent with the renewal of the Jordanian-Iraqi trade protocol, the volume of which is worth $255 million. The Jordanian government is subjected to great pressures from some Jordanian bodies such as the Chamber of Commerce of Amman and the Jordanian Trade Unions in order to increase the volume of the Jordanian - Iraqi trade.

Previous Stories:
  Increase in quantity, cost of fuel transferred from Iraq to Jordan   (12/6/1997)
  Extensive Iraqi-Jordanian cooperation in upcoming months   (11/15/1997)
  Jordanian student killed in Iraq   (10/2/1997)

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