Jordan and Iraq have agreed on executing an oil pipeline to export Iraqi oil through Jordanian Red Sea Aqaba port. The agreement came after a high-ranking joint meeting held here and attended by the energy ministers of the two neighboring countries.The two parties have also agreed on studying the possibility of setting up an oil refinery and power station. As per the agreement, the pipeline will pump one million bpd of Iraqi crude to Al-Aqaba port and Iraq will provide Jordan with its needs of oil at preferential prices.