By mid-April, the kingdom of Jordan will receive 75,000 barrels of oil per day (bopd), worth an estimated $170 million, free of charge from Gulf Cooperation Council (GCC) producers Kuwait and Saudi Arabia, under a three-month government aid deal.
The consignments are intended to make up for the annual 85,000 bopd of Iraqi crude that was trucked to Jordan prior to the outbreak of war by a fleet of 600 tankers. Until the shipments’ suspension on March 23, 2003, Jordan was granted half of its oil requirements from Iraq, free of charge, while the remaining portion was sold to the Kingdom at a discount.
The first shipment will arrive in Jordan from Kuwaiti, according to the state-owned Kuwait Petroleum Corporation (KPC). The Kuwaitis will reportedly supply a third of the total oil secured, while the Saudis will deliver the remaining two-thirds.
Ahead of the outbreak of war in Iraq, Jordan’s King Abdullah visited Riyadh in a bid to secure an offer from Saudi Crown Prince Abdullah to supply the Jordanian Kingdom with oil in case Iraqi supplies were cut off. — (menareport.com)
© 2003 Mena Report (www.menareport.com)
