Lebanon will resell fuel oil Iraq will get ‘goods and services’ from Lebanon Iraq has a surplus of heavy fuel oil Iraq has agreed to sell Lebanon 1 million mt/year of heavy fuel oil in return for “goods and services” in a barter deal that should help OPEC’s second-biggest producer reduce a surplus of fuel oil while enabling cash-strapped Lebanon to obtain the commodity needed for power plants. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now The fuel oil will be sold at international prices and will be paid in exchange for Lebanese goods and services, Iraq’s oil ministry said in a July 24 statement. Because Iraq’s fuel oil doesn’t meet the specifications of its power plants, Lebanon will resell the Iraqi fuel and use the proceeds to buy spot cargoes of fuel that does meet its specifications, Lebanon’s outgoing energy and water minister […]