Jordan says Iraq will boost oil exports to kingdom

By the Associated Press | September 20, 2012 | 12:35 PM EDT

AMMAN, Jordan (AP) — Jordan has signed a deal with Iraq to increase oil exports and other derivatives to the kingdom.

The state-run Petra New Agency says Jordanian Energy Minister Alaa Batayneh and Iraq's Oil Minister Abdul-Karim Elaib agreed during a meeting Thursday that Iraq will initially increase daily exports of crude to its neighbor by 5,000 barrels. Jordan currently imports 10,000 oil barrels a day from Iraq.

Jordanian energy ministry did not disclose financial terms of the deal that was signed in Amman.

Iraq will also supply Jordan with natural gas, liquefied petroleum gas and heavy fuel oil, according to the agreement.