Cursor International executes projects and collaboration activities across several industries.
By Al Monitor staff. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News.
Iraq agrees to provide Lebanon with fuel for another year
Lebanon’s fuel crisis is showing no signs of letting up, but an exchange with Iraq is keeping one source flowing.
Click here to read the full article.
The post Iraq to provide Lebanon with Fuel for Another Year first appeared on Iraq Business News.
By John Lee.
Iraq and Lebanon have finalised an agreement under which Iraq will provide the Lebanese Electricity Corporation with 1 million tonnes of heavy fuel oil over a one-year period.
Lebanon’s caretaker Energy Minister, Raymond Ghajar, signed the deal in Baghdad at the weekend.
The oil will be paid for in goods and services.
(Sources: Govt of Iraq, NNA)
The post Iraq and Lebanon sign Fuel Barter Deal first appeared on Iraq Business News.
By Noam Raydan, for Amwaj Media. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News.
Iraq-Lebanon fuel oil talks remain shrouded in mystery
Despite Lebanon’s deepening financial crisis, its politicians remain committed to the same stop-gap measures that have crippled the country’s dilapidated electricity sector. Lebanese officials continue to experiment with ad hoc solutions to the power sector, which has long been a drag on the national budget.
Among the more controversial plans is the government’s attempt to import fuel oil from Iraq. Aside from its unsuitability for power plants in Lebanon, partly due to its high sulfur content, talks between Baghdad and Beirut over fuel supplies have been fraught with contradictory and factually inaccurate statements.
The full report can be viewed here (registration required).
The post Iraq-Lebanon Fuel Oil talks “Shrouded in Mystery” first appeared on Iraq Business News.
By Mustafa Saadoun for Al Monitor. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News.
More Lebanese doctors leave for Iraq
As Lebanon is sinking deeper into an unprecedented financial and political crisis, many medical doctors are increasingly packing their bags and leaving for the Gulf or Europe, and more recently for Iraq.
Click here to read the full article.
The post More Lebanese Doctors leave for Iraq first appeared on Iraq Business News.
By John Lee.
Iraq’s Cabinet has agreed to supply 500,000 tons of heavy fuel oil annually to Lebanon.
According to a statement from Prime Minister Mustafa Al-Kadhimi, the oil will be paid for in a barter deal, in return for services, medical goods, medicines and consulting services.
(Source: Office of the Iraqi Prime Minister)
The post Iraq Barters Heavy Fuel Oil with Lebanon first appeared on Iraq Business News.
Iraq will begin exporting fuel to Lebanon starting January 2021 at “global prices”, Minister of Oil Ihsan Abdul Jabbar announced.
Abdul Jabbar’s remarks came in a statement on Monday after his meeting with his Lebanese counterpart, Raymond Ghajar, in the Iraqi capital city of Baghdad.
“Exported fuel will be part of a surplus over the Iraqi refineries’ current demand,” the minister pointed out, adding that the supply would be “limited and to be announced later.”
He noted that the exports were expected to cover the “requirements of the Lebanese power stations to generate electricity”, the Middle East Monitor reported.
On his part, Ghajar told reporters that the meeting had discussed an “expansion in bilateral relations between the two countries.”
Lebanon has been suffering from a severe lack of power for years, with most residential and commercial establishments dependent on generators.
(Source: Tasnim, under Creative Commons licence)
The post Iraq to Export Fuel to Lebanon in 2021 first appeared on Iraq Business News.
By John Lee.
On Wednesday evening, the Lebanese Prime Minister Hassan Diab received an Iraqi delegation headed by Oil Minister Ihsan Abdul-Jabbar, representing Iraqi Prime Minister Mustafa Al-Kadhimi, and which included Deputy Health Minister Hani Al-Aqabi, Chargé D’affaires, Amin Al-Nasrawi, Political Advisor Ahmad Jamal and Oil Minister’s Office Head Haidar Obaid, in the presence of Energy and Water Minister Raymond Ghajar and PM’s Advisor, Khodor Taleb.
The delegation briefed the Prime minister on the Iraqi medical provisions that arrived in Beirut and the petroleum products that departed Baghdad.
After the meeting, Minister Abdul-Jabbar said:
“In response to the directive of the Prime Minister, Mustafa Al-Kadhimi, we came from the Ministry of Oil along with the Deputy Health Minister and a number of general and specialized surgeons, carrying aid amounting to 20 tons of medical and health materials, as an expression of Iraq’s solidarity with the suffering of brotherly Lebanon due to the recent incident that took place.
“An atmosphere of desolation and expectation prevailed in Iraq, in the face of the major event that afflicted Beirut. May Lebanon return to normalcy and live safe. The Iraqi government is committed to engage with Lebanon in the face of this ordeal. The fuel convoys have left Baghdad en route to Beirut via the Syrian border.
“Premier Al-Kadhimi promised the Lebanese government to provide Lebanon with fuel; Iraq will be of invaluable assistance and support for the Lebanese government. The medical staff will remain in Beirut until the Lebanese authorities consent to their return, and medical assistance will remain available. We express our heartfelt condolences to the families of the victims and missing persons, and we wish recovery for the wounded people.“
(Source: Lebanese PM Press Office)
Advertising Feature
By Racha Haydar, Founding Partner, Rights and Honors.
“It’s a rough road that leads to the heights of greatness,“
Lucius Annaeus Seneca.
Thriving on challenges, my journey initially started in Lebanon in 2013, with a big dream and a big vision at heart, soon my services extended to challenging business environments across the UAE, Iraq and Lebanon, providing specialist, business focused counsel essential for clients to achieve their business goals through real world advice and market knowhow.
People often wondered, why Iraq? Although doing business in Iraq has its own set of unique and dynamic challenges, the economic potential of Iraq is enormous. Furthermore, Iraq is one of the world’s wealthiest nations that brims with potential for years to come.”
In 2013, my starting point was Kurdistan. Defying social expectations, as a female entrepreneur in a male-dominated industry, earning respect has been a struggle.
I realized that in order to succeed, we needed to build a robust support network.
Our network and services soon became imperative to provide a smooth operation to the investors. While every business owner is interested to be in the market, they lack the legal structuring especially with the culture and language barriers.
The scope that was provided to customers back then, was based on their daily struggle whether in communication or in understanding the local laws. My expertise soon became a collaborating/ mediating link between local lawyers and foreign companies by simplifying their road map and lessening the burden and challenges of a new market.
Here are some useful tips shared:
By John Lee.
The Speaker of the Lebanese Parliament has reportedly called for the restoration of an oil pipeline between Iraq and Lebanon, which ceased operation during the Iran-Iraq war more than 30 years ago.
On the last of a four-day visit to Iraq, during which he met with Iraqi President Barham Salih, Nabih Berri is also quoted as saying:
“We discussed Lebanese investment in Iraq and especially the subject of the oil installations between Kirkuk and Tripoli, a topic we must return to.”
(Sources: Al Bawaba, Office of the Iraqi President)