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FINANCIAL NEWS
Iraq, Jordan seek building oil pipeline
05 Jan 2011
(MENAFN) Ali al-Dabbagh, spokesman for the Iraqi government, said that the country made an initial agreement with Jordan for the construction of a pipeline which would export crude oil to Jordan for years to come, reported Tehran Times.
Al-Dabbagh said that the 10,000 barrels per day that Iraq currently provides Jordan with does not meet demand in the latter country and thus a pipeline that extends to al-Zarqa refinery in Jordan would be necessary.
In a news conference with Jordanian Deputy Prime Minister Ayman al-Safadi, Al-Dabbagh said that the two countries also discussed a joint venture for the development of a cross-border gas field.
It is worth noting that Iraq and Jordan signed an agreement for providing Jordan with 10,000 barrels of crude per day for the years from 2008 and 2010, thus securing a tenth of Jordan’s energy needs over those years.
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