Home
[size=35][size=35]"The National" about the Iraqi fuel deal with Lebanon: No money or goods in exchange for oil[/size]
[You must be registered and logged in to see this link.]
[/size]
[You must be registered and logged in to see this link.][/size]
2024-06-22 | 05:44
[You must be registered and logged in to see this image.]
[/size]
1,414 views
Alsumaria News - Economy
[ltr]
0 seconds of 0 seconds Volume 0%
[/ltr]
And imported[You must be registered and logged in to see this link.], a country that suffers from a lack of natural resources and is suffering from an economic crisis, heavy fuel oil from[You must be registered and logged in to see this link.]According to a swap deal signed in 2021,
the newspaper states in a report it reviewed[url=https://www.alsumaria.tv/entity/133473/%D8%A7%D9%84%D8%B3%D9%88%D9%85%D8%B1%D9%8A%D8%A9 %D9%86%D9%8A%D9%88%D8%B2/ar/]Alsumaria News[/url], that[You must be registered and logged in to see this link.]It will rely on complex procedures to import Iraqi fuel to meet its electricity needs, despite the lack of an agreed-upon payment plan between the Lebanese government and its Iraqi counterpart, noting that the complex Iraqi fuel import plan will be extended until 2028.
New documents and interviews reveal that the scheme, which experts say is fraught with problems, could lock the country into an unstable arrangement while delaying its transition to renewable or affordable energy sources, according to the newspaper.
The newspaper adds that the heavy fuel it provides[You must be registered and logged in to see this link.]It does not meet the fuel specifications required in Lebanese power stations, so the deal allows Beirut to exchange it on the international market for other types of oil suitable for its stations, through traders who make profits through this.
Three years after signing the agreement, he has not paid[You must be registered and logged in to see this link.]Iraq has yet to pay the price of the oil it obtained, for reasons including that there are some unclear conditions in the agreement. The contract concluded between the two parties stipulates that...[You must be registered and logged in to see this link.]Money in its account in dollars, which Iraq can withdraw in Lebanese pounds to spend (within the Lebanese market) on “goods and services,” such as medical services, according to the newspaper, which explained that the exchange rates at which it will receive[You must be registered and logged in to see this link.]The money in lira, and also the nature of the services he will receive, is not clear.
The newspaper explains that[You must be registered and logged in to see this link.]He has not yet been able to obtain even $550 million worth of goods or services, which is the value of the first year’s imports, deposited in the Central Bank of Lebanon, noting that the deal makes...[You must be registered and logged in to see this link.]Relying on crude oil, it replaces Iraqi heavy oil with gas oil and low-sulfur fuel oil, instead of cheaper alternatives such as natural gas, or clean renewable energy sources.
Despite these issues, new documents indicate that[You must be registered and logged in to see this link.]He plans to rely on the renewal of the Iraqi fuel deal for his energy supplies until at least 2028, according to the newspaper.
The newspaper says that[url=https://www.alsumaria.tv/entity/3468112253/%D8%AE%D8%B7%D8%A9 %D8%A7%D9%84%D8%B7%D9%88%D8%A7%D8%B1%D8%A6 %D8%A7%D9%84%D9%88%D8%B7%D9%86%D9%8A%D8%A9/ar/]National emergency plan[/url]For the electricity sector in[You must be registered and logged in to see this link.]Intends to increase the deal size with[You must be registered and logged in to see this link.]To 772 million dollars annually, to enhance production capacity from 4 hours a day to 8 hours by the year 2028.
These estimates show that the bill due to Iraq will rise to 5.45 billion dollars by the year 2028, and this situation will make...[You must be registered and logged in to see this link.]Depending mainly on fossil fuels, it will remain unable to provide electricity 24 hours a day.
A Lebanese expert in the field of energy says: The Iraqi fuel deal is a time bomb in light of the lack of an alternative source of fuel. The contract is scheduled to expire next October, and the Iraqis will want to know why they are not getting anything in return, according to the newspaper.
And even if it was[You must be registered and logged in to see this link.]Able to pay for and secure an extension of the agreement, experts have expressed concern about the lack of planning to secure cheaper and greener alternative fuel sources.
Lebanese families, despite being promised reliable electricity supplies for more than a decade, still face daily power outages and are forced to pay expensive and polluting subscriptions for diesel generators.
Before a deal[You must be registered and logged in to see this link.], shook[You must be registered and logged in to see this link.]The contaminated fuel scandal within an agreement with Algeria to import fuel, at the end of 2020. What the Lebanese authorities portrayed as a contract to import fuel from one country to another with Algeria, turned out to include secret foreign companies that charge exorbitant prices for low-quality fuel.
This scandal revealed the existence of a network of corruption in...[You must be registered and logged in to see this link.]They include contaminated fuel shipments, falsified laboratory tests, and widespread bribery among state officials.
After this scandal emerged, this fuel supply contract was not renewed, which made...[You must be registered and logged in to see this link.]Without a fuel supply contract for the first time since 2005, and therefore, in order to search for an alternative source, he signed[You must be registered and logged in to see this link.]The Iraqi agreement was concluded in July 2021 and was extended in 2023 for an additional year for two million tons.
Under the terms of the contract, the[You must be registered and logged in to see this link.]One year to pay for each fuel shipment, but 3 years after signing the deal, he has not received it[You must be registered and logged in to see this link.]anything.
that[You must be registered and logged in to see this link.]It already owes Iraq about $1.59 billion for the millions of tons of fuel it has imported since 2021, according to figures.[url=https://www.alsumaria.tv/entity/2785217798/%D9%88%D8%B2%D8%A7%D8%B1%D8%A9 %D8%A7%D9%84%D8%B7%D8%A7%D9%82%D8%A9 %D9%88%D8%A7%D9%84%D9%85%D9%8A%D8%A7%D9%87/ar/]Ministry of Energy and Water[/url]The bank account designated for Iraqis is held in a bank[You must be registered and logged in to see this link.]At $550 million, representing the value of the first year’s imports, but the Iraqi government has not yet been able to access dollar-denominated funds, according to the newspaper.
Regarding the "goods and services" that Iraqis are supposed to receive in...[You must be registered and logged in to see this link.]With this money, it has not yet been determined, and it has not happened[You must be registered and logged in to see this link.]None yet, despite media reports about the provision of medical services.
The newspaper quoted an official in[url=https://www.alsumaria.tv/entity/3541376971/%D9%88%D8%B2%D8%A7%D8%B1%D8%A9 %D8%A7%D9%84%D8%B5%D8%AD%D8%A9 %D8%A7%D9%84%D8%B9%D8%B1%D8%A7%D9%82%D9%8A%D8%A9/ar/]Iraqi Ministry of Health[/url]He said: Medical services are only on paper and nothing has happened in this area.
The newspaper concluded that the Lebanese government appears to be betting on its good diplomatic relations with...[You must be registered and logged in to see this link.]This enables it to overcome any potential financial disputes, as the emergency plan currently proposed is based on the assumption that the Iraqi contract will be renewed.
[You must be registered and logged in to see this link.]
[You must be registered and logged in to see this link.]
[/size]
Economy
[size][size][You must be registered and logged in to see this link.][/size]
2024-06-22 | 05:44
[You must be registered and logged in to see this image.]
[/size]
1,414 views
Alsumaria News - Economy
The National newspaper published in the Emirates revealed new details about the Iraqi fuel deal with Lebanon 2021, while showing that Iraq did not receive any money or services in return, and Beirut currently owes Iraq $1.59 billion, an amount that may rise to $5.45. Billion dollars over the next four years.
[ltr]
0 seconds of 0 seconds Volume 0%
[/ltr]
And imported[You must be registered and logged in to see this link.], a country that suffers from a lack of natural resources and is suffering from an economic crisis, heavy fuel oil from[You must be registered and logged in to see this link.]According to a swap deal signed in 2021,
the newspaper states in a report it reviewed[url=https://www.alsumaria.tv/entity/133473/%D8%A7%D9%84%D8%B3%D9%88%D9%85%D8%B1%D9%8A%D8%A9 %D9%86%D9%8A%D9%88%D8%B2/ar/]Alsumaria News[/url], that[You must be registered and logged in to see this link.]It will rely on complex procedures to import Iraqi fuel to meet its electricity needs, despite the lack of an agreed-upon payment plan between the Lebanese government and its Iraqi counterpart, noting that the complex Iraqi fuel import plan will be extended until 2028.
New documents and interviews reveal that the scheme, which experts say is fraught with problems, could lock the country into an unstable arrangement while delaying its transition to renewable or affordable energy sources, according to the newspaper.
The newspaper adds that the heavy fuel it provides[You must be registered and logged in to see this link.]It does not meet the fuel specifications required in Lebanese power stations, so the deal allows Beirut to exchange it on the international market for other types of oil suitable for its stations, through traders who make profits through this.
Three years after signing the agreement, he has not paid[You must be registered and logged in to see this link.]Iraq has yet to pay the price of the oil it obtained, for reasons including that there are some unclear conditions in the agreement. The contract concluded between the two parties stipulates that...[You must be registered and logged in to see this link.]Money in its account in dollars, which Iraq can withdraw in Lebanese pounds to spend (within the Lebanese market) on “goods and services,” such as medical services, according to the newspaper, which explained that the exchange rates at which it will receive[You must be registered and logged in to see this link.]The money in lira, and also the nature of the services he will receive, is not clear.
The newspaper explains that[You must be registered and logged in to see this link.]He has not yet been able to obtain even $550 million worth of goods or services, which is the value of the first year’s imports, deposited in the Central Bank of Lebanon, noting that the deal makes...[You must be registered and logged in to see this link.]Relying on crude oil, it replaces Iraqi heavy oil with gas oil and low-sulfur fuel oil, instead of cheaper alternatives such as natural gas, or clean renewable energy sources.
Despite these issues, new documents indicate that[You must be registered and logged in to see this link.]He plans to rely on the renewal of the Iraqi fuel deal for his energy supplies until at least 2028, according to the newspaper.
The newspaper says that[url=https://www.alsumaria.tv/entity/3468112253/%D8%AE%D8%B7%D8%A9 %D8%A7%D9%84%D8%B7%D9%88%D8%A7%D8%B1%D8%A6 %D8%A7%D9%84%D9%88%D8%B7%D9%86%D9%8A%D8%A9/ar/]National emergency plan[/url]For the electricity sector in[You must be registered and logged in to see this link.]Intends to increase the deal size with[You must be registered and logged in to see this link.]To 772 million dollars annually, to enhance production capacity from 4 hours a day to 8 hours by the year 2028.
These estimates show that the bill due to Iraq will rise to 5.45 billion dollars by the year 2028, and this situation will make...[You must be registered and logged in to see this link.]Depending mainly on fossil fuels, it will remain unable to provide electricity 24 hours a day.
A Lebanese expert in the field of energy says: The Iraqi fuel deal is a time bomb in light of the lack of an alternative source of fuel. The contract is scheduled to expire next October, and the Iraqis will want to know why they are not getting anything in return, according to the newspaper.
And even if it was[You must be registered and logged in to see this link.]Able to pay for and secure an extension of the agreement, experts have expressed concern about the lack of planning to secure cheaper and greener alternative fuel sources.
Lebanese families, despite being promised reliable electricity supplies for more than a decade, still face daily power outages and are forced to pay expensive and polluting subscriptions for diesel generators.
Before a deal[You must be registered and logged in to see this link.], shook[You must be registered and logged in to see this link.]The contaminated fuel scandal within an agreement with Algeria to import fuel, at the end of 2020. What the Lebanese authorities portrayed as a contract to import fuel from one country to another with Algeria, turned out to include secret foreign companies that charge exorbitant prices for low-quality fuel.
This scandal revealed the existence of a network of corruption in...[You must be registered and logged in to see this link.]They include contaminated fuel shipments, falsified laboratory tests, and widespread bribery among state officials.
After this scandal emerged, this fuel supply contract was not renewed, which made...[You must be registered and logged in to see this link.]Without a fuel supply contract for the first time since 2005, and therefore, in order to search for an alternative source, he signed[You must be registered and logged in to see this link.]The Iraqi agreement was concluded in July 2021 and was extended in 2023 for an additional year for two million tons.
Under the terms of the contract, the[You must be registered and logged in to see this link.]One year to pay for each fuel shipment, but 3 years after signing the deal, he has not received it[You must be registered and logged in to see this link.]anything.
that[You must be registered and logged in to see this link.]It already owes Iraq about $1.59 billion for the millions of tons of fuel it has imported since 2021, according to figures.[url=https://www.alsumaria.tv/entity/2785217798/%D9%88%D8%B2%D8%A7%D8%B1%D8%A9 %D8%A7%D9%84%D8%B7%D8%A7%D9%82%D8%A9 %D9%88%D8%A7%D9%84%D9%85%D9%8A%D8%A7%D9%87/ar/]Ministry of Energy and Water[/url]The bank account designated for Iraqis is held in a bank[You must be registered and logged in to see this link.]At $550 million, representing the value of the first year’s imports, but the Iraqi government has not yet been able to access dollar-denominated funds, according to the newspaper.
Regarding the "goods and services" that Iraqis are supposed to receive in...[You must be registered and logged in to see this link.]With this money, it has not yet been determined, and it has not happened[You must be registered and logged in to see this link.]None yet, despite media reports about the provision of medical services.
The newspaper quoted an official in[url=https://www.alsumaria.tv/entity/3541376971/%D9%88%D8%B2%D8%A7%D8%B1%D8%A9 %D8%A7%D9%84%D8%B5%D8%AD%D8%A9 %D8%A7%D9%84%D8%B9%D8%B1%D8%A7%D9%82%D9%8A%D8%A9/ar/]Iraqi Ministry of Health[/url]He said: Medical services are only on paper and nothing has happened in this area.
The newspaper concluded that the Lebanese government appears to be betting on its good diplomatic relations with...[You must be registered and logged in to see this link.]This enables it to overcome any potential financial disputes, as the emergency plan currently proposed is based on the assumption that the Iraqi contract will be renewed.
[You must be registered and logged in to see this link.]
» /Information/ reveals the location of the Rafidain Bank robbers in Ramadi
» Al-Sudani Office for /Al-Maalouma/: Foreign workers threaten graduates
» Foreign Minister invites his Venezuelan counterpart to visit Baghdad
» "Government" real estate loans with amounts up to 150 million dinars.. Conditions and details
» Setting a date to launch 102 investment opportunities in Iraq
» Bitcoin Set to Post Best September Ever on Rate Cut
» What is the truth about the existence of a naval embargo imposed on Iraq?
» More than $70 million in Iraqi imports of Indian tea
» Oil price decline: Impact hits new groups in Iraq
» Parliamentary Finance to NINA: The decline in global oil prices will not affect employees’ salaries
» Al-Hakim: Investing in tourism as one of the sources of financial revenues for the state
» From Najaf Al-Ashraf.. The Minister of Labor announces the completion of the procedures for issuing
» Parliamentary Finance to NINA: The decline in global oil prices will not affect employees’ salaries
» 19,000 dinars difference from the official price.. The dollar falls slightly in Baghdad
» Al-Asadi: We call on citizens to invest in the retirement and social security law
» “Worth $4 billion”: Iran exports engineering services to Iraq
» US, Iraq agree to end 'alliance' in September 2025
» New tax will push house prices up, Iraq's real estate market into recession
» It is black and includes Iraq.. Netanyahu waves the “curse map” before the United Nations
» “The wiretapping scandal” complicates the political scene.. The second term is far from Al-Sudani
» Suspicions surround hospital projects.. Is corruption hindering the Chinese agreement in Iraq?
» Statement issued by the media office of Dr. Iyad Allawi
» Faeq Zidane: The jurisdiction of law and judiciary is a constitutional and legal jurisdiction
» Sudanese arrives in Baghdad
» Planning: Completion of 70% of inventory and numbering work in Kirkuk
» Rafidain Bank announces granting real estate loans to three categories
» Dollar price today
» Netanyahu enters with maps and attendees leave the General Assembly session.. What did he mention Ir
» The historic agreement on international withdrawal... a turning point in the path of Iraqi sovereign
» Includes citizens, employees and retirees.. A real estate loan from Rafidain worth 150 million dinar
» Does it include an American withdrawal? Two important indications in the statement "ending the missi
» Dollar exchange rates drop in Iraqi stock exchanges
» Will the drop in oil affect only employees' salaries or all segments of society?
» North Carolina removes 747,000 from voter rolls
» The full extent of the Biden-Harris criminal alien invasion REVEALED
» utube 9/24/24 MM&C Iraqi Dinar News-IRAQ-INTERNATIONALISM NY-2023 to 2029 Road Map - Social- Finan
» utube MM&C 9/26/24 Iraq Dinar News-Iraq Plans Redenomination of Currency-Value of it Related-Elect
» Hanoun calls for benefiting from the Chinese economic experience and linking the Silk Road between t
» Gulf-American statement directs a strict request to Iraq
» Conflict escalates in the Middle East, warning of Iraq slipping deeper into confrontation
» EU 'concerned' over increasing executions in Iraq
» Mustafa Sand: The judiciary has proven the “wiretapping” issue, and Al-Sudani’s brother is involved
» Parliamentary Committee Talks in Numbers About Iraq’s Water Crisis with Türkiye and Proposes a Solut
» Why did the Central Bank hesitate to implement the measures taken against Iraqi private banks?
» US State Department: Announcement of agreement on the future of the international coalition from Ira
» Housing Crisis in Iraq: “Ambitious” Government Plans and Fears of Monopoly
» Will privatization save Iraq's economy or open the door to corruption?
» Parliament: Agreement with the regional government to review its oil contracts to adapt them constit
» Interior Minister: Iraq is free of drug factories
» Anbar Alliance: Halbousi clings to power because he fears opening major files against him
» Rising prices of oil derivatives in Kurdistan.. reasons and goals
» Economist calls on the government to resort to tax exemption
» Iraqi Oil Company for Investment and Pricing of Raw Gas Produced
» Increase in activity at Mandali border crossing during the current year
» MP: New cities map will include eight governorates next year
» The Ministry of Finance confirms that the employee is entitled to university service allowances whil
» Media Commission and Starlink discuss cooperation prospects to provide internet services in Iraq
» Prime Minister: Iraq is witnessing an urban and economic renaissance and revitalization of the indus
» Kurdistan Finance announces the results of its delegation's recent visit to Baghdad
» "We will guarantee your rights".. A specialized committee reassures the drilling company's cadres af
» Iraq discusses cooperation with SpaceX to provide internet services
» Among them are young people.. the most prominent groups included in the distribution of housing unit
» Labor announces the direct transfer of 12 thousand beneficiaries to contracts in the Ministry of Int
» Al-Samarrai praises Al-Sudani’s speech before the United Nations: It is worthy of Iraq, its history
» Iraqi expert raises the principle of "no return" in Lebanon: We are facing the hypocrisy of the larg
» New tax will push house prices up, Iraq's real estate market into recession
» Iraqi oil returns to the red zone, affected by the collective decline in prices
» “Iraq at a Crossroads”… Will Climate Change Become an Opportunity for Innovation and Sustainability?
» Masrour Barzani to Parliamentary Finance: Halting oil exports caused Iraq to lose $19 billion
» 1291 projects stuck in Iraq.. achievements on paper and ruins on the ground!
» Violated Childhood.. Iraq suffers from the absence of law and the continuation of the cycle of viole
» Chinese Ambassador: We are determined to provide support to Iraq regarding armament and developing m
» Activating electronic services in the presidencies of the courts of appeal
» Trump threatens to turn Iran's largest cities into rubble.. Iraqi expert explains
» Parliamentary Finance Delegation Visits Kurdistan.. Salaries, Oil and Ports Files on the Table of Ba
» Iraqi bank achieves “achievement” in electronic transactions
» State of Law: The coming days are fateful for America and its interests in the region
» Iraq announces sending 75 tons of medical aid to Lebanon by air
» Economist reveals reasons for the return of the dollar's rise in Iraq
» Conflict escalates in the Middle East, warning of Iraq slipping deeper into confrontation
» Labor announces the direct transfer of 12 thousand beneficiaries to contracts in the Ministry of Int
» Faeq Zidane: The jurisdiction of law and judiciary is a constitutional and legal jurisdiction
» Iraq signs with Jordan the second amendment to the electricity sales contract
» US-Gulf meeting stresses importance of Iraq's respect for Kuwait's sovereignty
» New information about "the arrival of 40,000 Iraqi and Yemeni fighters to the Golan"... and Assad is
» 71,000 barrels per day.. Iraqi oil exports decreased last month
» Does the “Right to Information” Law restrict freedoms? Why weren’t journalists involved in its formu
» Zidane: The judiciary considers issues of a political nature imposed by the constitution and the law
» Engineers apply new tech to model deadly brain tumors
» Iraqi banks cause citizens to “reluctantly” take out loans to purchase solar energy systems for home
» What are the reasons behind the "weakness" of imports of goods from Iraq?
» Iran announces exporting $4 billion worth of technical engineering services to Iraq
» Social Protection: Red tape hinders access to support, Ministry of Labor adopts new initiatives
» Parliamentary Committee: There are people controlling investment in Iraq
» Al-Abadi coalition: Kurds must admit mistakes in referendum file
» Accusations against the Ministry of Finance of obstructing the disbursement of Anbar farmers’ dues
» After Al-Hamdani joined Al-Halbousi... he went on to become furious
» Parliamentary Integrity: Suspicions of corruption surround some ministries