Jordan Floats Tender for Iraqi Oil

Jordan Floats Tender for Iraqi Oil

Jordan floated a tender to transport a maximum of 10,000 barrels of crude oil per day (b/d) from Iraq’s Baiji oil refinery to Jordan Petroleum Refinery Company.

The Jordanian Ministry of Energy and Mineral Resources asked specialized companies to submit their bids. The submission deadline will be on April 4, Jordan Times reported.

The tender comes in line with a memorandum of understanding (MoU) that was signed in February between the two countries, according to Hala Zawati, Jordan’s Energy Minister.

Under the MoU, Jordan will receive the 10,000 b/d of crude oil, which will cover 7% of its daily demand. Moreover, the amount is subject to an increase based on the agreement between the two countries.

The Iraqi oil will be exported to Jordan with a discount of $16 per barrel, compared with Brent crude prices, in order to cover the difference in transport costs and deviations in specifications.



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