The Lebanese Government represented by the Ministry of Energy & Water (MoEW) – Directorate General of Oil (DGO) and the Iraqi Government represented by the Ministry of Oil (MoO) – State Oil Marketing Organization (SOMO) have entered into a term agreement to secure on Government to Government (G2G) bases a yearly quantity of 1 (ONE) Million MT of Iraqi Quality Specifications High Sulphur Fuel Oil (HSFO) divided into 12 months.
The execution of the agreement will be divided into “Two Legs”
Leg 1 : Loading from SOMO HSFO as per SOMO GT&Cs and price
Leg 2 : Supplying to Lebanon HFO Grade (A) and/or HFO Grade (B) and/or Gasoil as per the below GT&Cs and price
