Lebanon strikes deals to get more oil from Iraq

Lebanon strikes deals to get more oil from Iraq

BEIRUT – Lebanon has agreed deals to secure more fuel supplies from Iraq, the two countries said on Tuesday, as Beirut battles to produce more power to help it emerge from years of economic crisis.

Baghdad has agreed to increase the volume of heavy fuel oil supplied under an existing deal by 50% to 1.5 million metric tonnes this year, Lebanon’s energy minister Walid Fayad said in a statement confirmed by the Iraqi prime minister’s office.

Iraq has also agreed a commercial deal to provide 2 million metric tonnes of crude per year to its neighbour, Fayad said. This was also confirmed by Baghdad.