Amman, July 21, 2024 - Minister of Energy and Mineral Resources, Dr. Saleh Al-Kharabsheh, announced today, Sunday, that Jordan received the approval of the Iraqi Ministers Council to extend the memorandum of understanding to supply crude oil between Ministry of Oil in the Republic of Iraq and the Ministry of Energy and Mineral Resources in the Hashemite Kingdom of Jordan, which signed on 5/4/2023 and with the same contractual terms stipulated in the memorandum, until 6/26/2025.

Al-Kharabsheh said that pursuant to the extension of the above memorandum of understanding, the Hashemite Kingdom of Jordan will be supplied with no more than (15) thousand barrels per day based on the monthly Brent crude oil rate minus (16) dollars per barrel to cover the quality difference and transportation costs, noting that this quantity constitutes about 10% of the Kingdom's needs for crude oil.

Minister Al-Kharabsheh stressed the importance of the memorandum in enhancing economic cooperation between the two brotherly countries, activating land imports, and the subsequent rehabilitation of the land route between the two countries and operating the tanker fleet in Jordan and Iraq; which embodies the economic interests, enhances energy cooperation between the two countries, contributes to creating more job opportunities, and restores the vital economic role of the land route between the two countries.