Q1 oil exports to Jordan surpass 1 million barrels

Shafaq News/ Iraqi crude oil exports to Jordan surpassed 1 million barrels in the first quarter of 2024, Iraq’s State Oil Marketing Organization (SOMO) announced on Thursday.

According to figures published on SOMO’s official website, Iraq exported 1,039,591 barrels of crude to Jordan over January, February, and March, reflecting a 33.88% decrease from the 1,391,985 barrels shipped during the same quarter in 2023.

Monthly breakdowns showed 309,980 barrels were exported in January, followed by a rise to 419,946 barrels in February, before dipping again in March to 309,765 barrels.

The decline comes despite a bilateral agreement signed in August 2023 to increase Jordan’s imports from 10,000 barrels per day to 15,000 barrels, raising total monthly volumes from 300,000 to 450,000 barrels — enough to cover roughly 10% of Jordan’s crude oil needs, according to the agreement.