AMMAN — According to data from the Iraqi oil company
SOMO, Jordan's imports of Iraqi oil in January reached approximately $29.8
million, marking a significant increase from the approximately $20.6 million
recorded during the same period in 2023, as per Al-Ghad. This signifies a
notable 45 percent surge in oil imports from Iraq.
اضافة اعلان
According to the company’s data, this amount
corresponded to the supply of approximately 464.3 thousand barrels in January,
averaging around 14.9 thousand barrels per day, with a selling price of $64.3
per barrel. In contrast, the quantities for the same month of 2023 were
approximately 309.5 thousand barrels, with an average price of $75.6 per
barrel.
In January, the company's sales to Jordan
constituted approximately 0.3 percent of its total sales during the same
period, totaling around $8.02 billion. This accounted for about 0.4 percent of
the company's total exports of approximately 103.5 million barrels, with an
average selling price of $77.5 per barrel.
Notably, Jordan purchases Iraqi oil at prices
$16 lower per barrel than the global market, resulting in a discount of
approximately $7 million in January.
Since August 2023, the rate of Iraqi oil
supply to Jordan has risen from 10 thousand barrels per day to 15 thousand
barrels per day, constituting approximately 15 percent of the kingdom's daily
crude oil requirement. This increase follows the announcement by both countries
in July of 2023 of an agreement to augment the quantities of Iraqi crude oil
exported to Jordan. The Iraqi side agreed to enhance the quantities under the
same contractual terms outlined in the memorandum of understanding (MoU) for crude
oil provision signed between the two governments on May 4, 2023.
The remaining portion of Jordan’s crude oil
requirement is met through imports by Aramco via periodic contracts.
Additionally, imports are refined alongside Iraqi oil at the oil refinery into
derivatives, accounting for approximately 45 percent of Jordan’s needs. The
remainder is imported in derivative form through three petroleum product
marketing companies operating in the kingdom: JoPetrol, Manaseer, and Total,
via periodic tenders.
The latest figures from the Department of
Statistics (DoS) regarding the oil bill for Jordan indicated that the total
value of this bill for the 11 months of 2023, including crude oil, derivatives,
and mineral oils, amounted to about JD2.7 billion. This is compared to about
JD3.3 billion during the same period of 2022, reflecting a decrease of 17.5
percent.
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