Iraq agreed to extend the agreement signed with Lebanon on “oil supplies in exchange for services and commercial products.” This was announced by the Minister of Energy and Water Resources Lebanon Valid Fayyad.
According to him, in the text of the new agreement, the volume of fuel supplies is increased from one million tons to 1 million 500 thousand tons per year.
The head of the department was thanked by Prime Minister Iraq Muhammad Shiu A al-Sudani and oil Minister Hayan Abdulgani for extending an agreement signed between the two countries in July 2021. “While maintaining the terms of the contract, the annual fuel volume is increased by 50 percent and brought to 1 million 500 thousand tons,” he said.
Fayyad said that the Iraqi Cabinet also approved an agreement on fuel supplies for power plants in Lebanon, starting from the summer months.