Iraq to Raise Oil Exports to Jordan by 50 %

Source: Bloomberg 6/2/2011, Location: Middle East

Iraq agreed to increase daily oil exports to Jordan to 15,000 barrels from 10,000 barrels, the Jordanian state-run news agency Petra said, citing Jordan’s Prime Minister Marouf al-Bakhit.

The two states agreed to raise the quantity later to 30,000 barrels a day, he said, without specifying a date. Bakhit and Iraqi Prime Minister Nuri al-Maliki agreed to the arrangement in Baghdad, Petra reported.

Jordan, which imports energy to meet most of its needs, is losing money after switching its power stations over to diesel and gasoil after Egypt halted shipments of less expensive natural gas in April. It was the second time this year that sabotage of the Egyptian pipeline network interrupted gas supplies to Jordan.


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