Business & Economy

What is the amount of Iraqi oil to Lebanon?

The Lebanese caretaker government revealed that its head, Hassan Diab, was officially informed by Iraq of doubling the amount of oil scheduled for Lebanon from 500 thousand tons to one million tons annually.
A statement issued by the Prime Minister, Hassan Diab, said that he was officially informed of the Iraqi Council of Ministers’ decision to double the amount of oil sent from Iraq from 500 thousand tons to one million tons annually.
Diab had contacted by phone yesterday evening, with the Iraqi Prime Minister, Mustafa Al-Kazemi, thanking him for his efforts and the Iraqi government for their support for Lebanon “in this difficult stage that it is going through.”
Al-Kazemi noted “the role that Diab played under very difficult circumstances,” stressing that “the Lebanese people deserve to stand with them in their current ordeal.”
Last December, the Iraqi Oil Ministry announced an agreement to supply Lebanon with fuel for power generation next year, according to international bulletin prices.
A statement by the Iraqi Ministry stated that “this came after the meeting between Iraqi Oil Minister Ihsan Abdul-Jabbar Ismail and the visiting Lebanese delegation headed by Minister of Energy and Water Raymond Ghajar.”
The Iraqi Oil Minister confirmed, according to the statement, that “it was agreed to sell an amount of oil surplus to the needs of Iraqi refineries to Lebanon during the year 2021 and in limited quantities, according to the prices of the international bulletin, within the framework of joint cooperation between the two brotherly countries,” expressing his hope “to achieve the agreement.” Common interests, which are summarized in covering part of Lebanon’s need for fuel in power generation, and Iraq’s realization of financial revenue from exporting this type of fuel.

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