Khaberni - The total quantities of oil imported by Jordan from Iraq decreased by 1.4% during the last quarter of the past year, compared to the same period from the year before last.
Jordan imported 881,612 barrels of oil from Iraq, compared to 894,237 barrels, according to Al-Ghad.
Iraq decided to resume oil shipments to the kingdom starting from October 5th last year until January 31st, 2026, after a pause since July of last year following the expiration of the oil export memorandum of understanding between the two countries, with the aim of completing the transfer of agreed quantities within the framework of the expired memorandum.
On a monthly basis, according to data from the Iraqi Ministry of Oil, the oil quantities supplied to the kingdom during last December amounted to about 309,712 barrels, compared to 309,515 barrels during the same month of the year before last.
According to ministry sources, discussions are currently underway with the Iraqi side to renew the memorandum of understanding between the two countries for importing Iraqi oil for an additional year, following the expiration of the previous memorandum on June 26th last year, which was extended until the end of last year to complete the quantities that were not loaded during the previous period for logistical reasons.
Jordan regularly imports Iraqi oil within the framework of a memorandum of understanding signed between the two countries for the first time in February 2019, and it is renewed annually, ensuring the kingdom is supplied with part of its crude oil needs under preferential terms.
Under this memorandum, Jordan continues to import quantities ranging from 10,000 to 15,000 barrels per day, at a price about $16 below the global price, with these quantities transported daily by between 70 and 80 tankers, shared equally between Jordanian and Iraqi tankers.
Iraqi oil imports account for 7% to 10% of the total daily oil needs of the kingdom, while the remaining percentage is covered through imports by the Aramco company under recurring contracts, in addition to quantities refined at the petroleum refinery and converted into petroleum products, which account for about 45% of the kingdom's needs.
This occurs at a time when the latest data issued by the General Statistics Department shows that the value of the oil bill for Jordan decreased by 2.7% during the first 11 months of last year, compared to the same period of the preceding year, as the total imports of crude oil and its derivatives during this period amounted to roughly 2.4 billion dinars, compared with about 2.47 billion dinars, during the same period of the year 2024.
The value of the oil bill constituted 12.6% of the total value of the kingdom's imports, which amounted to about 18.9 billion dinars, during the first 11 months of last year, compared to 14.3% out of a total imports of about 17.2 billion during the same period of the preceding year.
