Iraq extends agreement supplying Lebanon with fuel
Supertankers filling at the Al Basrah Oil Terminal. Photo: US Army
Baghdad (IraqiNews.com) – The Iraqi Council of Ministers agreed to secure Lebanon’s full needs of oil derivatives needed to operate power stations.
The agreement extended between both countries under the same previous conditions includes an increase of 50 percent in the quantities exported to Lebanon annually, to be 1.5 million tons, the Lebanese National News Agency (NNA) illustrated.
The agreement includes securing all the remaining quantities in the current fuel oil supply agreement.
It also includes increasing the monthly quantities of fuel from 80,000 tons to 160,000 tons.
The Council of Ministers also agreed to conclude a new contract to export two million tons of crude oil annually.
The Iraqi and the Lebanese governments will follow up on the final procedures to conclude the new contract, NNA mentioned.
The decision follows a recent visit of the Lebanese Minister of Energy, Walid Fayad, to Baghdad, where he discussed these agreements with the Iraqi Prime Minister, Mohammed Shia Al-Sudani.