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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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    Lebanon is moving to increase its oil imports from Iraq after the failure of supplies from Jordan an

    Rocky
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    Lebanon is moving to increase its oil imports from Iraq after the failure of supplies from Jordan an Empty Lebanon is moving to increase its oil imports from Iraq after the failure of supplies from Jordan an

    Post by Rocky Wed 10 May 2023, 5:27 am

    Lebanon is moving to increase its oil imports from Iraq after the failure of supplies from Jordan and Egypt



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    2023-05-10 04:20
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    Shafaq News/ The Lebanese caretaker energy minister announced that it is seeking to increase the country's oil imports from Iraq annually, after the failure of electricity supplies from Jordan and gas from Egypt.



    Walid Fayyad said on the sidelines of the international conference held in Abu Dhabi that "an agreement funded by the World Bank to obtain electricity supplies from Jordan and natural gas from Egypt via Syria has not witnessed any progress so far," noting that "the bank requested more reforms before its implementation."
    He added, "Lebanon seeks to increase imports from Iraq by increasing the size of an existing exchange deal and through new trade agreements."
    Lebanon and Iraq have already renewed an annual agreement that allows Beirut to import 1 million tons of heavy fuel oil each year, and in exchange, Iraq gets Lebanese healthcare and other services. 
    Fayyad said, "We are talking about hoping to increase the quantity, and we hope to conclude another contract under which we will get fuel from Iraq on a commercial basis, on deferred payment terms."
    Fayyad had met two days ago with the Iraqi Oil Minister, Hayan Abdul Ghani, during his visit to Iraq, and it was agreed to deliver all the remaining quantities of fuel from the agreement currently in force before the expiry of its term, which will increase the quantities delivered monthly, starting from the beginning of July until the end of November. .
    The Iraqi Oil Minister also expressed his willingness to discuss the possibility of increasing these quantities in the event that the two parties agreed to renew an agreement to supply and search for the possibility of diversifying the oil derivatives allocated for the exchange process.
    Lebanon signed an agreement with Iraq in July 2021 to import one million tons of fuel fuel to alleviate the electricity crisis in the country, and the first ship arrived in Lebanon loaded with 31,000 tons of this substance on September 16, 2021.
    Iraq and Lebanon agreed to exchange energy, according to which Iraq would grant Lebanon, which is going through the worst economic crisis in its history, heavy fuel oil, in return for "services and goods" that Iraq would receive from Lebanon.
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