Energy Ministry to request extension of Iraqi oil deal before June deadline

AMMAN — The Ministry of Energy and Mineral Resources has announced plans to approach Iraqi authorities to renew the Memorandum of Understanding (MoU) for Iraqi oil supplies to Jordan, set to expire on June 26, 2025.

The ministry said that the current oil supply agreement, signed between the Iraqi Ministry of Oil and the Jordanian Ministry of Energy and Mineral Resources, will remain in effect until its expiration, with a formal request for renewal to be submitted before the deadline, Al Mamlaka TV reported.

The ministry added that the Kingdom imported 688,644 barrels of Iraqi crude oil from January to February 2025. Since the agreement’s renewal in July 2024, total imports have reached 2,154,554 barrels as of February 28, 2025.

Under the existing MoU, Iraq supplies Jordan with up to 15,000 barrels of crude oil per day at a discount of $16 per barrel from the monthly average Brent crude price to account for quality differences and transportation costs. This supply meets around 10 per cent of Jordan’s total crude oil demand.