Oil agreement between Iraq and Jordan

Jordan and Iraq on Friday signed an agreement which states to provide Jordan with 5 million tons of Iraqi oil in the year 2001.

The Jordanian prime minister Ali Abu al-Ragheb who announced the news to Journalists said that Iraq will provide Jordan with 4 million tons of crude oil and one million tons of oil products.

Abu al-Ragheb added that each of Baghdad and Amman signed an agreement wich calls for building an oil pipeline of 750 km length and at a cost of US $ 350 million to transport the Iraqi oil which is now delivered to Jordan via tanks.

The agreement which was signed on Friday renewed the oil agreement which states that Jordan will export commodities at a cost of US $ 300 million against having 4.8 million of oil, half is free of charge and the other part is at preference prices.