Latest news with #oilimport
Zawya
18 hours ago
- Business
- Zawya
Jordan, Iraq in positive talks to extend oil import agreement — ministry
AMMAN — Jordan has officially requested an extension of its memorandum of understanding with Iraq for the import of crude oil, according to Iman Awad, Director of Oil and Gas at the Ministry of Energy and Mineral Resources. The current agreement is due to expire on June 26, 2025, according to Al Mamlaka TV. Awad said that discussions between the two sides are progressing smoothly and in a positive atmosphere, with no obstacles reported so far. She noted that the memorandum allows for annual renewal, and both countries are working constructively toward its continuation. Under the agreement, Jordanian tankers continue to transport Iraqi crude at the agreed daily rate of 10,000 barrels. The pricing is based on the monthly average price of Brent crude, with a discount of $16 per barrel to account for differences in quality and transport costs. The imported Iraqi oil represents around 7 per cent of Jordan's total oil consumption. Awad added that Jordan is responsible for providing the tanker trucks used to transport the oil from Iraq to the Jordan Petroleum Refinery in Zarqa. The fleet of tankers is shared equally between Jordanian and Iraqi companies, in line with the terms of the memorandum. © Copyright The Jordan Times. All rights reserved. Provided by SyndiGate Media Inc. (
Bloomberg
05-06-2025
- Business
- Bloomberg
China Skips US Oil Purchases for Second Month on Trade Impasse
China, the world's largest oil importer, avoided buying American crude for a second straight month as the nation's trade dispute with the US continues to unsettle markets. Dragged down by the absence of Chinese purchases, US oil exports slid to the lowest this year in April, according to US Census data. In the same month a year earlier, China bought 297,000 barrels a day from the US and three times that amount in 2023, the data shows. March and April mark the first time since the pandemic that Chinese refiners skipped buying from the US for two straight months.
