Strengthening energy partnerships: Lebanon and Iraq sign two key memoranda

Strengthening energy partnerships: Lebanon and Iraq sign two key memoranda

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2023-07-21 | 09:17

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Strengthening energy partnerships: Lebanon and Iraq sign two key memoranda

Lebanon's Caretaker Energy Minister Walid Fayad and Iraqi Oil Minister Hayan Abdel-Ghani have signed two memoranda of understanding to strengthen their energy cooperation. 

The first memorandum focuses on renewing the existing contract that supplies Lebanon with fuel oil, which will be increased to 1.5 million tons.

Additionally, the second memorandum outlines a fresh commitment to supply Lebanon with two million tons of crude oil at an annual cost of about one billion and 200 million dollars.

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