Iraqi oil is set to reach Lebanon starting around mid-September, according to local media.
The first oil shipment will arrive in Lebanon in the second week of this month, to be followed by the second shipment in the third week, LBCI reported on Wednesday.
In context, the law proposal that aims at requesting approval for the sale of fuel oil between the governments of Iraq and Lebanon was referred to Parliament by President Michel Aoun, on Wednesday.
The fuel that Lebanon will receive from its deal with Iraq, which amounts to 1 million tonnes, is enough to meet Lebanon’s electricity needs for around four months, caretaker Energy Minister Raymond Ghajar has said.
However, the fuel oil that’s coming in is not suitable for use by Lebanese power-generation facilities.
This is why the Lebanese government launched a tender to have the imported fuel oil swapped with Grade B fuel oil and gasoil.
ENOC, a UAE-based company, won the tender last week to swap around 84,000 tonnes of Iraqi fuel oil on Lebanon’s behalf.
In the meantime, hours-long nationwide power cuts remain a problem in the crisis-hit country as it battles a severe shortage of fuel that is paralyzing its vital sectors.