The Iraqi Prime Minister has recently announced Iraq will extend its supply of fuel to Lebanon for a period of six months.  This comes as part of the fuel supply contract that was concluded between Lebanon and Iraq in the summer of 2021 that has been periodically renewed since then. This agreement stipulates that Iraq, through SOMO (the public agency responsible for marketing Iraqi oil), would provide a monthly shipment of crude oil to a third-party company, which, in return, delivers an amount of fuel compatible with Lebanon’s Electricité du Liban (EDL) power plants, with the value equivalent to the crude oil received.  The Lebanese Minister of Energy and Water signed the renewal of this agreement. The new extension involves a quantity ranging from 1.5 to 2 million tons over a year, which is 500,000 tons more than the amount specified in the previous contract. Recently, EDL had rationed its supply due to a delay in the delivery of the last fuel shipment expected under the barter agreement between Iraq and Lebanon.  It is worth noting that under the heavy fuel oil deal, Iraq provides the Lebanese government with the fuel in exchange for services including health care for Iraqi citizens. (ICE BEIRUT)

Fonte notizia: Bank Audi, Lebanon Weekly Monitor, 31 March - 6 April 2025