Starved of electricity, Lebanon picks Dubai's ENOC to swap Iraqi fuel

BEIRUT -
Lebanon's energy ministry said it had picked Dubai's ENOC in a tender to swap 84,000 tonnes of Iraqi high sulphur fuel oil with 30,000 tonnes of Grade B fuel oil and 33,000 tonnes of gasoil.
ENOC won the tender, part of a deal between the two countries that allows the cash-strapped Lebanese government to pay for 1 million tonnes of Iraqi heavy fuel oil a year in goods and services.
As Lebanon suffers what the World Bank has described as one of the deepest depressions of modern history, shortages of fuel this month have meant state-powered electricity has been available for barely a few hours a day if at all.
Residents turning to private generators for their power supply face diesel shortages.
The swap tenders are essential as Iraqi fuel is unsuitable for Lebanese electricity generation.
Lebanese caretaker Energy Minister Raymond Ghajar said in July the fuel from the Iraqi deal would be used for electricity generation by the state provider and was enough for around four months.
ENOC is set to receive the Iraq fuel between Sept. 3-5 and will deliver it to Lebanon two weeks after, the energy ministry said.
Related News

Report: Solar ITC Extension Would Be ‘Devastating’ for US Wind Market
WASHINGTON - The booming U.S. wind industry faces an uncertain future in the 2020s. Few factors are more important than the fate of the solar ITC.
An extension of the solar investment tax credit (ITC) at its 30 percent value would be “devastating” to the future U.S. wind market, according to a new Wood Mackenzie report.
The U.S. is on track to add a record 14.6 gigawatts of new wind capacity in 2020, and nearly 39 gigawatts during a three-year installation boom from 2019 to 2021, according to Wood Mackenzie’s 2019 North America Wind Power Outlook.
But the market’s trajectory begins to look…