Jordan Daily – Dr. Saleh Al-Kharabsheh, Minister of Energy and Mineral Resources, announced on Sunday that Jordan has received approval from the Iraq to extend the memorandum of understanding for crude oil supply between Iraq’s Ministry of Oil and Jordan’s Ministry of Energy and Mineral Resources.
The agreement, initially signed on May 4, 2023, will be extended under the same contractual terms until June 26, 2025.
Under this extension, Jordan will receive up to 15,000 barrels per day of crude oil based on the monthly Brent crude oil price minus $16 per barrel, accounting for quality differentials and transportation costs. This quantity represents approximately 10% of Jordan’s crude oil needs, according to Al-Kharabsheh.
