2023-07-21 19:23:06
The Lebanese Ministry of Energy and Water said in a statement, on Friday, that Iraq and Lebanon have concluded a new agreement to supply Lebanon with an amount of up to two million tons of crude oil annually.
On Friday, the Iraqi News Agency reported that the two countries had signed a memorandum of understanding aimed at providing Lebanon with fuel oil and crude oil, but did not give further details.
In May, Beirut signed agreements to secure more fuel supplies from Iraq in light of Lebanon’s suffering to generate more electricity, which might help the country out of an economic crisis that has been going on for years.
Baghdad also agreed to increase the volume of heavy fuel oil supplied to Lebanon under an existing agreement by 50 percent to 1.5 million metric tons this year.
Under the heavy fuel oil agreement that was signed for the first time, in July of 2021, Iraq supplies fuel to the Lebanese government in exchange for services, including the provision of health care to Iraqi citizens.
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