First Shipment of Swapped Iraqi Oil Arrives in Lebanon Thursday

  • Economics
First Shipment of Swapped Iraqi Oil Arrives in Lebanon Thursday

The first shipment of swapped Iraqi fuel (gasoil) unloaded its cargo in Lebanon Thursday as part of an agreement with the Iraqi government to supply the country with swapped fuel to operate the aging power plants, a source at the Energy Ministry said.

The Energy Ministry conducted a test on the 31,000 tons of gasoil to determine if they meet the requirements of the power plants and the results were positive, which means that the gasoil will start running the power plants.

The second shipment of Grade B fuel is also expected to arrive in Lebanon next week.

But authorities stress that the swapped Iraqi oil will only increase electricity output by four to five hours a day.

Former Energy and Water Ministry said on Aug. 26 that the Emirates National Oil Company (Enoc) won the first tender to replace 84,000 tons of black fuel from Iraq to Lebanon.

The UAE company will supply Lebanon’s aging power plants with the special diesel and gasoil to improve the electricity output and thus reduce the severe electricity rationing.

Lebanon and Iraq signed a contract last month in Baghdad to supply the country with 1 million tons of fuel which will be swapped with another diesel and gas fuel that can run the power plants.

Source: The Daily Star