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Iraq To Resume Oil Supply To Jordan

After suspending their export of crude oil to Jordan last week, Iraq is set to resume deliveries within the week

According to Jordanian Energy Minister Hala Zawati, Iraqi officials have notified his government that they will resume deliveries of crude oil by Wednesday with the deliveries expected to arrive in Jordan by either Thursday or Friday.

Baghdad suspended all deliveries to their neighboring country last week when global oil prices fell too low. Iraq has an outstanding agreement with Jordan to provide them with 10,000 barrels of oil per day which covers about 7% of the country's daily needs.

The deal was an initiative from Jordanian Prime Minister Omar al Razzaz who seeks to expand his country's ties with Iraq and to push ahead with their plans to install a pipeline project in order to export Iraqi crude from Jordan's Red Sea port of Aqaba.

As per Zawati the pipeline is expected to take three years to construct once a final agreement with Baghdad has been signed. The project is estimated to cost $5 billion with the preliminary agreements reached by both parties last year.

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