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Economy, Energy

Alpha Dhabi H1 profit $1.79bn

Adjusted EBITDA rises to $2.36bn.

Borouge Q2 net profit $193m

The H1 revenue stood at $2.72 billion.

ADNOC Drilling H1 revenue $2.37bn

The company posted a net profit of $692m.

Eni profit falls due to dip in oil prices

Q2 net profit fell by 18% to $637 million.

Emirates NBD H1 profit $3.40bn

Total income rose by 12 percent in the same period.

Jordan, Iraq renew crude supply deal

Saudi Arabia had announced voluntary 1mbpd cut in July. (AFP)
By TRENDS Desk
May 5, 2023 4:04 pm
  • The agreement was signed by the Energy and Mineral Resources Minister of Jordan, Saleh Al Kharabsheh, and the Oil Minister of Iraq, Hayan Abdul Ghani
  • As per the deal, Jordan will begin importing 10,000 barrels of crude per day for a year, starting from June. and this will cover around 7% of Jordan's daily oil needs

Baghdad, Iraq – Jordan and Iraq have signed a deal to resume the export of Iraqi crude to Jordan under preferential terms, the Jordan News Agency reported

The agreement was signed by the Energy and Mineral Resources Minister of Jordan, Saleh Al Kharabsheh, and the Oil Minister of Iraq, Hayan Abdul Ghani, in Baghdad on Thursday. 

As per the deal, Jordan will begin importing 10,000 barrels of crude per day for a year, starting from June. 

This will cover around 7 percent of Jordan’s daily oil needs. 

Jordan had suspended its oil imports from Iraq after the previous extension expired on March 31. Under a memorandum of understanding signed in 2021, Jordan imports around 10,000 barrels per day from Iraq, based on the monthly average price of Brent crude oil minus $16 per barrel to cover the difference in quality and transportation costs.

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