Jordan-Palestine Sign MoU on Petroleum Derivative Sales

Amman, MINA – The Governments of Jordan and Palestine signed a memorandum of understanding (MoU), in which Jordan will sell petroleum derivatives to Palestinians who have been relying on their procurement on Israel.

The MoU was signed in Amman on Wednesday, August 7 by Palestinian Finance Minister, Shukri Bishara and Jordan’s Energy and Mineral Resources Minister, Hala Zawati.

The MoU calls for cooperation between the two countries in providing Palestinian derivative needs for oil by buying it from Jordanian companies and exporting it to Palestine, WAFA reported.

The agreement also concerns the storage of petroleum derivatives in Jordan’s oil facilities, in addition to cooperation in other energy fields.

Bishara stressed the importance of MoU in providing Palestinian oil market with oil derivatives, showing that it was important for both parties.

He estimated annual Palestinian oil derivative imports between US $ 2.5 and US $ 3 billion.

Meanwhile, Zawati stressed the importance of providing petroleum derivatives for Palestinians to help Palestinians diversify their energy sources.

Palestinians import most of them are oil needs and derivatives which come from Israel, but they are looking for ways to end this dependence on Israel. (T/Sj/P2)

Mi’raj News Agency (MINA)