Lebanese Energy Minister visits Iraq to conclude a new oil agreement

Shafaq News / Lebanon's official news agency reported that interim Energy and Water Minister Walid Fayyad is scheduled to visit Iraq on Friday to sign a memorandum of understanding with the Iraqi Oil Ministry on supplying Lebanon with oil derivatives.

The agency stated today that this step comes as a continuation of the talks held with Iraqi officials, coordinated by Iraqi PM Mohammed Shia al-Sudani, and closely monitored by Minister Fayyad, which led to Iraq's approval to extend the agreement to supply Lebanon with more fuel oil.

In addition to the conclusion of a new trade agreement to supply Lebanon with crude oil to replace it with oil derivatives necessary to operate electricity production plants in Lebanon.

The preliminary memorandum of agreement would be signed at the Iraqi Ministry of Oil, according to the agency, provided that the appropriate draft contracts are prepared and properly carried out subsequently.

Minister Fayyad will return in the evening to the capital Beirut, according to his media office.