“Lebanon and Iraq discuss expanding fuel oil agreement for power plants”

The Minister of Energy and Water in the caretaker government, Walid Fayyad, discussed in the Iraqi capital, Baghdad, with the Iraqi Deputy Prime Minister for Energy Affairs and Minister of Oil, Hayan Abdul Ghani, in developing and expanding the agreement to supply Lebanon with fuel oil for the necessity of operating the power plants.

Hayyan expressed all responsiveness to the Lebanese proposals, especially in the short term, by delivering all the remaining quantities of the agreement currently in force before the expiration of its period, which will increase the delivered quantities monthly, starting from the beginning of July until the end of November.

He confirmed his willingness to discuss the possibility of increasing these quantities in the event that the two parties agreed to renew the supply agreement and to discuss the possibility of diversifying the oil derivatives allocated for the exchange process.

As for the medium-term level, Fayyad presented the issue of studying the possibility of conducting a commercial contract from one country to another allowing Lebanon to buy fuel from Iraq with a delayed payment schedule. The two parties agreed to study this proposal and prepare official correspondence in this regard.