money and business
An informed source suggested the return of Iraqi oil transportation to Jordan by land before the end of next April, indicating that the memorandum of understanding signed between the two countries had obtained some immaterial amendments.
The source indicated, according to what was reported by the “Kingdom” channel that the memorandum to import crude oil from Iraq, which was extended for another year, kept the quantities of transport at about 10 thousand barrels per day, while the source did not indicate any change in oil prices, which was determined according to the previous memorandum. Brent price minus $ 16.
The source added that after the official approval of the renewal of the memorandum of understanding between Jordan and Iraq, a new bid will be offered for transport operations from Iraq to Jordan, and there will be no extension of the previous transport bid.
Jordan and Iraq had signed a memorandum of understanding in 2006 to supply Jordan with Kirkuk crude oil transported by land in tankers, according to a price equivalent to the price of Brent crude minus $ 18, provided that the Kingdom bears the cost of transport between Kirkuk and Zarqa, and it was modified in February 2019, to become the price equation Better for two dollars.
It is noteworthy that the Iraqi-Jordanian memorandum of understanding on importing oil expired in mid-July, and was extended until November due to the Corona pandemic, which affected the flow of transportation, and stopped it for a limited period.
Source: Kingdom Channel