Energy Iraq renews crude supply deal with Lebanon By Reuters July 23, 2023, 7:20 AM Reuter/Essam Al-Sudani The 90-km pipeline is the main link between the Chevron-operated Leviathan offshore gas field and Egypt Iraq renewed its agreement to provide Lebanon with up to 2 million tons of crude oil for a year, Lebanese energy ministry said in a statement on Friday. The two countries signed a memorandum of understanding on Iraq providing Lebanon with fuel oil and crude oil, the Iraqi state news agency INA also reported on Friday, without elaborating. In May Lebanon signed deals to secure more fuel supplies from Iraq as Beirut battles to produce more power to help it emerge from years of economic crisis. Baghdad also agreed to increase the volume of heavy fuel oil supplied under an existing deal by 50 percent to 1.5 million metric tonnes this year. Under the heavy fuel oil deal, first agreed in July 2021, Iraq provides the Lebanese government with the fuel in exchange for services including health care for Iraqi citizens. Register now: It’s easy and free AGBI registered members can access even more of our unique analysis and perspective on business and economics in the Middle East. Why sign uP Exclusive weekly email from our editor-in-chief Personalised weekly emails for your preferred industry sectors Read and download our insight packed white papers Access to our mobile app Prioritised access to live events Register for free Already registered? Sign in I’ll register later
