Lebanese government approves the Baghdad-Beirut oil agreement

Shafaq News/ The Lebanese President, Michel Aoun, and the head of the caretaker government, Hassan Diab, granted today exceptional approval to the oil agreement concluded with Iraq.

 The exceptional approval was issued by the two presidents based on the request of the Ministry of Energy and Water on the agreement to sell fuel oil, signed between the two countries, and the fuel oil purchase contract signed between the General Directorate of Oil, according to a statement issued by the Presidency of the Lebanese Council of Ministers.

 Last July, the Lebanese Minister of Energy and Water, Raymond Ghajar, signed a contract with the Iraqi government, represented by Finance Minister Ali Abdel Amir Allawi, to import one million tons of fuel from Iraq to Lebanon.

 The Iraqi Council of Ministers approved, in a session held last June, to increase its oil exports to Lebanon from 500 thousand tons to one million tons.