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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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Established in 2006 as a Community of Reality

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    SOMO announces the date of the arrival of Iraqi oil to Lebanon

    Rocky
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    SOMO announces the date of the arrival of Iraqi oil to Lebanon Empty SOMO announces the date of the arrival of Iraqi oil to Lebanon

    Post by Rocky Wed Sep 08, 2021 7:54 am

    SOMO announces the date of the arrival of Iraqi oil to Lebanon

    •  Time: 09/08/2021 09:05:00
       
    •  Reading: 1,378 times

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    {Economic: Al Furat News} At a time when the Lebanese have been suffering for more than two months from a severe fuel crisis that has been largely reflected in the electricity that only comes for a few hours a day, Lebanon is preparing to obtain the first shipment of Iraqi oil, amounting to one million tons of heavy fuel oil, based on On an official agreement signed between the Iraqi and Lebanese sides last July.
    While the first shipment, loaded with 84,000 tons of heavy fuel oil, was supposed to arrive a few days ago, it is expected to arrive in the coming hours, after it was postponed due to the lack of technical procedures for this, according to Haider Al Kaabi, Director of Relations and Media Department at the company. Iraqi Oil Marketing (SOMO).
    Al-Kaabi also explained, "The first shipment will be launched from the Al-Makhtaf area (near Khor Al-Zubayr in Basra Governorate) from the floating tank with a quantity of 84 thousand tons, to be followed by other shipments sequentially according to the quantities available for export from Iraqi refineries and according to the international price bulletin, in order to meet the need for power plants in Lebanon. ".
    He pointed out, "The payment of the price of Iraqi fuel will be in cash after a year from the date of each shipment, and there will be subsequent discussions regarding continuing this agreement and exporting other quantities or being satisfied with the current quantity, which is one million tons."
    He also stressed that "the implementation of the procedures related to this agreement is through dealing between the official authorities of the two countries exclusively, and there is the authority of the Lebanese government to deal and agree with international companies to replace the product exported from Iraq with a product that matches the specifications of the product consumed in their electric power plants."
    In addition, he made it clear that "this agreement is an Iraqi message to the Lebanese people that we stand by them in this difficult circumstance that will end soon."
    In addition, the agreement between the two governments included converting oil into fuel suitable for operating electricity plants.
    The Emirates National Oil Company (ENOC) in Dubai, which was awarded the fuel tender, will replace 84,000 tons of Iraqi black fuel (not conforming to the specifications of the Lebanese stations) for the benefit of Electricity of Lebanon.
    The heavy fuel oil that will come from Iraq is not usable directly in Lebanese energy plants, so the authorities resorted to supplying another type of fuel that will be provided by ENOC.
    It is assumed that the Emirati "ENOC" company will receive the Iraqi fuel upon its arrival in Lebanon, and that it will deliver it to the latter after two weeks, as the Lebanese Energy Minister Raymond Ghajar announced a few days ago.
    Why not transfer directly to Dubai?
    Commenting on this point, the director of the Institute for Natural Resources Governance in the Middle East and North Africa, Laurie Hayatian, asked, "Why did the Iraqi fuel not be transferred directly to the Emirati company in Dubai, as long as the tender was awarded to replace it with fuel conforming to the specifications of the Lebanese factories instead of transporting it to Lebanon and then returning it?" He was transferred to Dubai and then returned to Lebanon.
    "Why this ambiguity about the fuel transportation mechanism at a time when it was supposed to be straightforward? That is, direct from Iraq to Dubai and then to Lebanon," she said.
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