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Iraq's will increase oil exports to Jordan using trucks
12/03/2012 10:27
BAGHDAD, March 12 (AKnews) - Iraq will activate its previous agreement with Jordan to increase the country's oil export to 15,000 barrels per day (bpd) by trucks.
The Iraqi Oil Ministry announced yesterday that it had decided to activate a deal made with Jordan on August 24 to raise the level of oil production to between 10,000 and 15,000 bpd.
The decision comes amid escalating tensions between the West and Iran, who has threatened to close the Strait of Hormuz, most important shipping lane in the world, in response to EU sanctions.
The Director General of Oil Marketing Company, Falah al-Amiri, told AKnews that the Iraqi government decided to form a committee to address the obstacles that have hindered the export of 15,000 barrels per day to Jordan using trucks.
"Iraq is exporting to Jordan about 6,000 bpd of crude oil at $5 less than the worldwide price of oil barrel," he said.
"The Ministry of Oil is serious in its plan to raise its oil exports through oil ports and in particular Turkey's Ceyhan pipeline."
Iran is threatening to close the Strait of Hormuz, in response to EU sanctions on Iranian oil and Tehran's central bank in order to cut off funding from its nuclear program.
Around 1.7 million out of 2.2 million barrels of Iraqi oil pass daily through the strait - the only shipping lane of the Arab Gulf.
The government reversed earlier announcements in February when it revealed plans to seek alternatives to the strait if Iran's threats became a reality.
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12/03/2012 10:27
BAGHDAD, March 12 (AKnews) - Iraq will activate its previous agreement with Jordan to increase the country's oil export to 15,000 barrels per day (bpd) by trucks.
The Iraqi Oil Ministry announced yesterday that it had decided to activate a deal made with Jordan on August 24 to raise the level of oil production to between 10,000 and 15,000 bpd.
The decision comes amid escalating tensions between the West and Iran, who has threatened to close the Strait of Hormuz, most important shipping lane in the world, in response to EU sanctions.
The Director General of Oil Marketing Company, Falah al-Amiri, told AKnews that the Iraqi government decided to form a committee to address the obstacles that have hindered the export of 15,000 barrels per day to Jordan using trucks.
"Iraq is exporting to Jordan about 6,000 bpd of crude oil at $5 less than the worldwide price of oil barrel," he said.
"The Ministry of Oil is serious in its plan to raise its oil exports through oil ports and in particular Turkey's Ceyhan pipeline."
Iran is threatening to close the Strait of Hormuz, in response to EU sanctions on Iranian oil and Tehran's central bank in order to cut off funding from its nuclear program.
Around 1.7 million out of 2.2 million barrels of Iraqi oil pass daily through the strait - the only shipping lane of the Arab Gulf.
The government reversed earlier announcements in February when it revealed plans to seek alternatives to the strait if Iran's threats became a reality.
[You must be registered and logged in to see this link.]
