Raymond Ghajar was accompanied by General Abbas Ibrahim as well as the director general in charge of the oil installations Aurore Feghali.
This quantity of fuel oil should a priori allow the power plants of electricity in Lebanon to operate for 4 additional months. However, Iraqi oil does not meet the specifications, Lebanon intends to exchange it for oil that meets the specifications of local power stations via the Spot Cargo system.
In total, Lebanon could thus obtain up to 3 million tonnes corresponding to a third of the annual local demand, or 9 hours of electricity per day in summer and 14 hours in winter.
In terms of financing, Iraq has reportedly agreed to open an account at the Banque du Liban, managed by the finance ministry and which will be used to purchase products and services in Lebanon. Thus, no foreign currency should leave the land of the cedars and the reserve requirements remain untouched.
Moreover, the EDL has still not used the $ 200 million made available for the purchase of petroleum products. According to the minister, it is a question of finding a lasting solution for a longer period.
Regarding an offer from Iran, no official document has yet been received. If, however, this were the case, it would then be examined in cooperation with the Presidency of the Republic, the Council of Ministers, the Ministry of Finance and the Bank of Lebanon.