Jordan - Iraq oil agreement
Jordan-Iraq, Economics, 12/30/1997

Jordanian Energy Minister Mohammed al-Hourani signed an oil agreement with Iraqi Oil Minister Marshal Amer Rashid yesterday in Baghdad.

"Iraq will provide Jordan with an increased amount of oil and oil products by 7% during 1998. Thus Jordan will import 4.8 million tons of Iraqi oil at reduced prices; It will pay US $16.18 per barrel," the Jordanian minister said.

This is the 8th subsequent year Iraq has provided Jordan with reduced priced oil.

The current agreement was signed at a time when diplomatic relations between the two countries had recently witnessed a crisis after the Iraqi government executed four Jordanians for smuggling car parts.

Meanwhile London-based newspaper al-Hayat reported yesterday that Jordanian Foreign Minister Fayez al-Taraunah, during his visit to Saudi Arabia, discussed with authorities there the possibility of providing his country with Saudi oil to replace that of Iraq.

Iraqi Minister of Oil Muhammad Rashid said the agreement,"speaks of the intermingled economic relations between the two countries," adding that the reduction which is estimated at US $300 million is "a gift from President Saddam Hussein to the people of Jordan."

Previous Stories:
  Iraq offered new reduced oil prices, Jordanian Energy Minister said   (12/29/1997)
  King Hussein seeks Saudi oil   (12/26/1997)
  Extensive Iraqi-Jordanian cooperation in upcoming months   (11/15/1997)

Please add a link on your webiste pointing to ArabicNews.com and bookmark ArabicNews.com & subscribe to our daily email news bulletin.

Search