Iraq, Jordan Sign Crude Oil Agreement

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Last updated at: (Beijing Time) Wednesday, July 24, 2002

Iraq, Jordan Sign Crude Oil Agreement

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Iraq will provide Jordan with 5 million tons of crude oil, half of which for free and the other half at preferential prices, as the two neighboring countries struck a cooperative deal on crude oil, the official Iraqi News Agency (INA) reported Tuesday.

The two sides hailed the agreement an emphasis "on the importance of expanding bilateral cooperation to meet Jordan's needs of Iraq's crude oil," the INA said.

Iraq has been the only source of crude oil for the oil-deficientkingdom.

Last December, Iraqi Oil Minister Amir Mohammad Rashid and visiting Jordanian Energy Minister Mohamed Batayneh renewed their bilateral oil agreement for 2002, which said Iraq would increase its crude and oil by-products to Jordan by 5 percent in 2002.

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