Iraq and Lebanon signed a memorandum of understanding that includes Iraq providing Lebanon with quantities of fuel oil and crude oil.
Deputy Prime Minister for Energy Affairs, Minister of Oil Hayan Abdel-Ghani said during the signing ceremony “this memorandum of understanding comes in implementation of Cabinet Resolution No. 23265 in 2023, which aims to provide the needs of the brothers in fuel oil and crude oil in support of the electricity sector in Lebanon, and based on the promotion and development of prospects for bilateral cooperation between the two countries, in a way that serves common interests.
Abdul-Ghani indicated, according to a statement by the Ministry of Oil, today, Friday, that “the content of the agreement will be renewed for another year with an increase in the quantity supplied for gas oil in accordance with the agreement of the two parties, while a new contract for crude oil will be organized, and the technical committees formed from both sides will put in place the appropriate mechanisms to implement this agreement, including determining quantities, transportation mechanisms, loading and unloading, and other technical and logistical obligations for each party, after which the cabinets of both countries will ratify the recommendations of the joint committee.”
For his part, the Lebanese Minister of Energy and Water, Walid Fayyad, praised the position of the Iraqi government and people to support his country, to overcome its crisis in providing fuel for electric power stations. This is greatly appreciated by the government and the Lebanese people.”/ End
Source: National Iraqi News Agency