Iraq and Lebanon sign a memorandum of understanding to supply Beirut with fuel and crude oil

Baghdad-INA 

The Deputy Prime Minister for Energy Affairs and Minister of Oil, Hayan Abdul Ghani, announced today, Friday, the signing of a memorandum of understanding with Lebanon to supply the latter with fuel and crude oil.

The Minister of Oil said, in a statement received by the Iraqi News Agency (INA): "This memorandum comes in implementation of Cabinet Resolution No. 23265 in 2023, which aims to provide the brothers' needs for fuel oil and crude oil in support of the electricity sector in Lebanon, and based on strengthening and developing prospects for bilateral cooperation between the two countries, in a way that serves common interests.".

Abdul-Ghani indicated that "the content of the agreement will be renewed for another year with an increase in the quantity supplied for gas oil in accordance with the agreement of the two parties, while a new contract for crude oil will be organized, and the technical committees formed from both sides will develop the appropriate mechanisms to implement this agreement, including determining quantities, transport mechanisms, loading and unloading and other technical and logistical obligations for each party, after which the cabinets of both countries will ratify the recommendations of the joint committee.".

For his part, Lebanese Minister of Energy and Water Walid Fayyad praised "the position of the Iraqi government and people to support and back their country, to overcome its crisis in providing fuel for electric power stations, and this is greatly appreciated by the Lebanese government and people."