Iraq Renews Deal to Supply Lebanon Up to 2 Million Tons of Crude for A Year
(Reuters) — Iraq renewed its agreement to provide Lebanon with up to 2 million tons of crude oil for a year, Lebanese energy ministry said in a statement on Friday.
The two countries signed a memorandum of understanding on Iraq providing Lebanon with fuel oil and crude oil, the Iraqi state news agency INA also reported on Friday, without elaborating.
In May Lebanon signed deals to secure more fuel supplies from Iraq as Beirut battles to produce more power to help it emerge from years of economic crisis.
Baghdad also agreed to increase the volume of heavy fuel oil supplied under an existing deal by 50% to 1.5 million metric tonnes this year.
Under the heavy fuel oil deal, first agreed in July 2021, Iraq provides the Lebanese government with the fuel in exchange for services including health care for Iraqi citizens.
Related News
Related News
- Phillips 66 to Shut LA Oil Refinery, Ending Major Gasoline Output Amid Supply Concerns
- FERC Sides with Williams in Texas-Louisiana Pipeline Dispute with Energy Transfer
- U.S. Appeals Court Blocks Kinder Morgan’s Tennessee Pipeline Permits
- ConocoPhillips Eyes Sale of $1 Billion Permian Assets Amid Marathon Acquisition
- Valero Considers All Options, Including Sale, for California Refineries Amid Regulatory Pressure
- U.S. Appeals Court Blocks Kinder Morgan’s Tennessee Pipeline Permits
- Malaysia’s Oil Exports to China Surge Amid Broader Import Decline
- U.S. LNG Export Growth Faces Uncertainty as Trump’s Tariff Proposal Looms, Analysts Say
- Marathon Oil to Lay Off Over 500 Texas Workers Ahead of ConocoPhillips Merger
- Valero Considers All Options, Including Sale, for California Refineries Amid Regulatory Pressure
Comments