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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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    An Iraqi government delegation visits Beirut to discuss revenues from {oil in exchange for services}

    Rocky
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    An Iraqi government delegation visits Beirut to discuss revenues from {oil in exchange for services} Empty An Iraqi government delegation visits Beirut to discuss revenues from {oil in exchange for services}

    Post by Rocky Sun 16 Jul 2023, 7:18 am

    An Iraqi government delegation visits Beirut to discuss revenues from {oil in exchange for services}
    • Time: 07/16/2023 12:09:05
       
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    {Economic: Al Furat News} A responsible government source revealed that a government delegation will soon go to the Lebanese capital, Beirut, to discuss the oil agreement between the two countries {oil in exchange for services}.
    Last month, the government of Prime Minister Muhammad Shia al-Sudani decided to extend it for another year, with an increase in oil quantities from one million to one and a half million tons to operate Lebanese power plants after processing Iraqi oil to match those stations.
    According to the government’s decision, the agreement in which Iraq exports heavy fuel oil to Lebanon, which was agreed upon for the first time in July 2021, will be renewed in early October, with an increase of half a million tons, without any change in the part related to what Iraq will receive. In exchange for oil, any health services, agricultural products, and other aspects are evaluated against oil, but Iraq has not yet clarified whether it has actually received compensation from Lebanon, especially since the budget items for the current year and the next two years 2024 and 2025 did not note any revenues or references to these benefits.
    In contrast to the oil agreement with Jordan, neither the Iraqi Ministry of Oil nor the National Oil Export Company (SOMO) disclose any clarifications regarding the revenues of its oil agreement with Lebanon.
    A senior official at the Ministry of Oil stated that Iraq "records oil as dollar amounts to Lebanon, and it is assumed that these amounts are deducted from it in exchange for Iraq obtaining medical and treatment services, agricultural products and other commercial aspects, but so far none of these assets have been recorded as having entered Iraq."
    He revealed that "an official delegation will go to Lebanon to discuss the details of the payment of these amounts," considering that "the defect in the implementation of the terms of the agreement does not fall on Beirut, but rather because of the political crisis in Baghdad that extended for a whole year and the change of governments, as Iraq did not submit any request to obtain services or Discussing the payment of revenues, which is negligence on the Iraqi side.”
    However, another official in the Ministry of Oil described the agreement, signed in 2021, as having a "more political than commercial nature," adding, "The addition of the clause for Iraq's access to health, treatment, and agricultural services was not serious, and waiting for payment of the price of the quantities of oil exported to Lebanon at the current global oil price." It means no less than 20 years of agricultural services and products that must reach Iraq in exchange for three years of oil.
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