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Iraq to start exporting oil to Jordan within two days, paper says

Nov 13, 2006, 8:14 GMT

Amman - Iraq plans to start exporting oil to Jordan at preferential prices 'within two days,' a local newspaper reported Monday. Iraq has informed Jordan to conduct preparations for receiving Iraqi crude within two days, the pro-government daily al-Rai quoted sources as saying. Under a memorandum of understanding signed earlier this year between the two countries, Iraq has agreed to supply Jordan with between 10 per cent and 30 per cent of its oil needs, currently standing at about 100,000 barrels per day (bpd), at 'preferential prices,' the paper said. It quoted sources at the Jordanian Iraqi Overland Transport Company that the firm had been assigned a contract for transporting crude to Jordan until the end of the year. 'Afterwards, the transport of Iraqi oil to Jordan will be assigned to a new firm to be chosen from several bidders,' al-Rai said. Jordan will most probably import Iraqi crude as part of a barter deal, whereby it pays for the Iraqi oil in terms of Jordanian goods and products, the paper said. © 2006 dpa - Deutsche Presse-Agentur

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