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Jordan to renew the contract with Iraq’ SOMO oil company

Category: Economy

Date: 2021-01-04T11:16:02+0000
Jordan to renew the contract with Iraq’ SOMO oil company

Shafaq News / The Iraqi oil marketing company SOMO said, on Monday, that Jordan is negotiating with Iraq to rebuy crude oil after Expiration of the contract.

The director of the company, Alaa al-Yasiri, said in an interview with Shafaq News Agency the contract with Jordan has expired, therefore Iraq did not export crude oil in December, indicating that Jordan is currently negotiating with Iraq to renew the contract.

Al-Yasiri added, "We will officially announce the quantity of oil exported to Jordan when the new contract is signed.”

Jordan did not import crude oil from Iraq during the month of December, while it imported, while in November the quantities of oil exported to Jordan estimated at 252,763 barrels at 6,739,683 dollars.

In September 2019, Jordan received its first shipments under an agreement to buy 10 thousand barrels per day of crude oil from Kirkuk fields to meet part of the domestic demand before it stopped it in May and June due to the drop in oil prices, to resume imports again last September.

At the time, SOMO revealed that Jordan has extended the contract to purchase oil from and will proceed with the process starting from September.

Jordan imported 261 thousand barrels from Iraq in July but imported non in August. In September 2019, Jordan received its first shipments as by an agreement to buy 10 thousand barrels per day of crude oil from Kirkuk fields to meet part of the domestic demand before it stopped it in May and June due to low oil prices.

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