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Lebanon: Iraq will reduce the amount of fuel supplied to us by half after the price hike
Shafaq News/ The Minister of Energy and Water in the Lebanese caretaker government, Walid Fayyad, confirmed that Iraq will reduce the amount of fuel supplied to his country by half after the increase in fuel and fuel prices in global markets.
Fayyad said in press statements, "His visit to Iraq and his meeting with the ministers of finance, oil and electricity and the governor of the Central Bank, were positive and they expressed their intention to stand by Lebanon at this stage and to complete the positive work they are doing."
He added, "The extension of the fuel agreement will enable us to have a few hours of electricity, as they provide us with 80,000 tons per month, but in this period the quantity is less due to the difference in price and the increase in the price of fuel, so it decreased to 40 thousand tons, providing us with two hours of feeding instead of 4." hours".
He pointed out that "we are working to prepare for another visit to Iraq that could include President Mikati and Major General Abbas Ibrahim to formulate and extend the new formula of the agreement, and to show the Iraqi side that we are committed on our part to pay the dues, albeit in a gradual and phased manner, by providing services to the Brotherhood in Iraq. Mr. President, he assigned me to study this matter to determine these services for the Iraqi side to activate this agreement.”
Lebanon signed an agreement with Iraq in July 2021 to import one million tons of fuel fuel to alleviate the country's electricity crisis, and the first ship arrived in Lebanon carrying 31,000 tons of this substance on September 16, 2021.
Fuel is a mixture of oils that remain in the oil refining unit after distillation (heavy fuel) and burn in a furnace or boiler to generate heat or to generate electrical or kinetic energy.
Iraq and Lebanon agreed on an energy exchange, under which Iraq would give Lebanon, which is going through the worst economic crisis in its history, heavy fuel oil, in exchange for "services and goods" that Iraq would get from Lebanon.
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Fayyad said in press statements, "His visit to Iraq and his meeting with the ministers of finance, oil and electricity and the governor of the Central Bank, were positive and they expressed their intention to stand by Lebanon at this stage and to complete the positive work they are doing."
He added, "The extension of the fuel agreement will enable us to have a few hours of electricity, as they provide us with 80,000 tons per month, but in this period the quantity is less due to the difference in price and the increase in the price of fuel, so it decreased to 40 thousand tons, providing us with two hours of feeding instead of 4." hours".
He pointed out that "we are working to prepare for another visit to Iraq that could include President Mikati and Major General Abbas Ibrahim to formulate and extend the new formula of the agreement, and to show the Iraqi side that we are committed on our part to pay the dues, albeit in a gradual and phased manner, by providing services to the Brotherhood in Iraq. Mr. President, he assigned me to study this matter to determine these services for the Iraqi side to activate this agreement.”
Lebanon signed an agreement with Iraq in July 2021 to import one million tons of fuel fuel to alleviate the country's electricity crisis, and the first ship arrived in Lebanon carrying 31,000 tons of this substance on September 16, 2021.
Fuel is a mixture of oils that remain in the oil refining unit after distillation (heavy fuel) and burn in a furnace or boiler to generate heat or to generate electrical or kinetic energy.
Iraq and Lebanon agreed on an energy exchange, under which Iraq would give Lebanon, which is going through the worst economic crisis in its history, heavy fuel oil, in exchange for "services and goods" that Iraq would get from Lebanon.
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