Iraq Demands $114m Refund

[Slaydadea]

Iraq Demands $114m Refund of Jordanian Oil Credit

Posted on 08 February 2011. Tags: Jordan, oil exports

Asim Jihad, a spokesman for the

Iraqi Oil Ministry, said the Iraqi government has demanded Jordan pay back a credit of $114m for purchasing Iraqi crude oil during 2003-6, adding Jordan has demanded to increase Iraqi crude oil import to 30,000 barrels per day (bpd).

According to the report from AKnews, during the period from 2003 to 2006 some 5.5 million barrels of the Iraqi crude oil were sold to Jordan, at a discount of $18 to the market price.

The Iraqi government made the claim when the Jordanian Prime Minister, Samir Ru’faee, recently visited Iraq.

Jihad added that talks between the Jordanian and Iraqi governments on the issue are underway.

Under a deal effective until 2008, Jordanians benefited from the $18 discount, Jihad said. He added the deal was extended to 2011; some 10,000 bpd were to be transferred to Jordan from 2009-2011.

However, during his recent visit to Iraq, the Jordanian PM demanded that the amount be increased to 30,000 bpd, according to the Ministry spokesman.

(Source: AKnews)