Expert Warns of $20M Loss from Iraqi Oil Deal End
The article discusses the non-renewal of the Iraqi oil import agreement to Jordan, which costs Jordan an estimated 20 million dollars annually. This amount represents the difference between the cost of purchasing oil from Iraq and sourcing it from other suppliers. Oil and energy specialist, Engineer Hashem Aqil, explained that alternatives are available and that not renewing the agreement does not hinder the country’s ability to meet its needs. However, it causes the loss of the preferential advantage that the agreement previously provided, especially amid volatile oil prices and regional conditions. He also pointed out that Iraq also has an interest in resuming oil supplies to Jordan, and that the government and ongoing discussions are still underway regarding the reactivation of the agreement. There are also talks about developing the electricity interconnection project between the two countries. Since the beginning of 2026, Iraqi oil shipments to Jordan have stopped, after Jordan imported around 2.75 million barrels in 2025. This amount was significant in meeting Jordan’s oil needs.
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