The Ministry of Energy and Water issued the following statement:

“After completing all the administrative and technical preparations between the Lebanese and Iraqi sides regarding the agreement signed with the brotherly State of Iraq to bring in one million tons of black fuel for a period of one year and replace it through monthly cargo spot tenders (between 75 to 85 thousand tons) for the benefit of Electricité du Liban, and after approvals From the Iraqi side on the book of conditions and the participating companies, the General Directorate of Oil in the Ministry of Energy and Water launched the first tender to replace about 84 thousand tons of black oil with about 30 thousand tons of heavy B grade fuel and about 33 thousand tons of gas oil.

The General Directorate of Oil called for a virtual meeting to open the bids, to which representatives of the companies participating in the tender were invited, and the General Directorate of Oil in the Ministry of Energy and Water, the Lebanese Ministry of Finance, the Central Bank and the Iraqi Sumo Company.

3 international companies participated in the tender, out of 4, approved by the Iraqi side, namely: Emirates National Oil Company (Enoc), Independent Petroleum Group (IPG), and Coral Energy DMCC. The tender was won by the Emirates National Oil Company (Enoc).

After informing the Iraqi side of the final result, the winning company will bring the replaced fuel to Lebanon about two weeks after the date of receiving the shipment of black oil from Iraq between September 3 and 5.