Iraq’s crude oil exports to Jordan have dropped to 6,000 barrels per day (bpd), an official said.

Director general for State Oil Marketing Organization (SOMO) Fallah Jasem al-Ameri said that instead of 10,000 bpd Jordan now receives 6,000 bpd through the oil tankers trafficking between the two countries.

An agreement between the two was sealed in 2008 whereby Iraq would provide 10,000 bpd to Jordan. 

Ameri added that last year Baghdad and Amman agreed to increase Iraqi oil exports to Jordan to 15,000 bpd but this was not feasible “due to technical and administrative issues”. 

“SOMO is striving to increase oil exports to 2.6m bpd in the next phase,” Ameri added.

Sixty percent of Iraq’s oil exports go to Asian markets. Iraq prefers Asian to American markets due to transit fees, according to the official.  

As far as long-term growth is concerned, Iraq is trying to increase its oil exports to 12m bpd over the next six years.

Source: AK News