Jordan to Resume Iraqi Oil Imports Halted By Pandemic

(Bloomberg) -- Jordan will resume imports of crude oil from its Middle East neighbor Iraq this month after suspending shipments due to the coronavirus.

Imports of about 10,000 barrels a day will re-start this month, according to Hassan Hiari, director of the gas and oil department at the Ministry of Energy and Mineral Resources. Shipments halted for all of August as a result of the pandemic, he said in a phone interview.

Jordanian and Iraqi authorities have agreed to extend their oil-supply agreement through November and will soon discuss renewing it for an additional year beyond that, Hiari said.

Under an initial deal signed in February 2019, Jordan has imported 10,000 barrels daily from OPEC member Iraq, enough to meet 7% of its needs. Jordan has negligible oil resources of its own.

©2020 Bloomberg L.P.