Jordan expects Iraq oil soon

AMMAN, Jordan, Sept. 18 (UPI) -- Jordan expects shipments of Iraqi crude will restart this week from a contract put on hold due to security concerns.

Jordanian Transportation Minister Sa’ud Nusayrat said Iraqi officials have told Jordanian officials that tanker trucks delivering the fuel will resume in three days.

Jordanian newspaper al-Dustur reports Iraqi officials feel the road is now safe enough and Iraq will protect around 500 Iraqi tankers taking the oil to the border with Jordan. The oil is then loaded onto Jordanian tankers.

Rates for the oil from Kirkuk, Iraq, are at $18 below market prices, per the terms of the year-old contract. The deal was to supply 10 percent to 30 percent of Jordan’s daily oil supply with Iraqi oil, around 100,000 barrels.

The start-up will be about 10,000 barrels per day, Nusayrat said. Prior to the war Jordan received all demanded oil supply from Iraq.