Business News
Iraq to increase crude exports to Jordan to 15,000 bpd
Sep 11, 2011, 16:03 GMT
Amman - Iraq on Sunday agreed to increase its export of crude oil to neighbouring Jordan by 5,000 barrels per day to 15,000 bpd at discounted prices, officials from the two countries said.
The agreement came during a meeting between Jordanian Energy Minister Khalid Touqan and his Iraqi counterpart Abdul-Karim Luaibi.
Iraq would also supply Jordan with 30,000 tonnes of fuel per month for electricity, the two ministers said.
Iraq and Jordan would also undertake joint ventures, including the development of the Risheh natural gas field along the border and the construction of pipelines to be used for the export of Iraqi oil and gas other Arab countries, Turkey and Europe.
Over the past decade, Jordan has been dependent on Egypt for natural gas. But a series of explosions at the pipeline in Sinai since the start of Egypt's uprising in January prompted Amman to seek alternative supplies to run its power stations.
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