The Jordanian and Palestinian governments signed today a memorandum of understanding (MoU) in which Jordan will provide Palestine with petroleum derivatives.
The MoU was signed by Finance Minister Shukri Bishara and Jordan’s Minister of Energy and Mineral Resources Hala Zawati.
The MoU calls for cooperation between the two countries in providing Palestine with its needs of petroleum derivatives by buying it from Jordanian companies and exporting it to Palestine, as well as storage of the petroleum derivatives in Jordanian oil facilities, in addition to cooperation in the energy field.
Bishara stressed the importance of the MoU in providing the Palestinian market with petroleum derivatives, pointing out that it is vital and important for both parties.
He estimated annual Palestinian imports of oil derivatives at between $2.5 and $3 billion.
For her part, Zawati stressed the importance of providing Palestine with the petroleum derivatives to help the Palestinian people diversify their energy sources.
Palestine imports most of its oil needs and its derivatives from Israel, but it is looking into ways to end this dependency on Israel.