Lebanon News

ZR Energy wins tender for 180,000 tons of fuel oil

People walk on the seaside promenade with the floating Turkish power station Karadeniz Powership Fatmagul (L) seen in the background next to Lebanon's Zouk Mosbeh power plant, north of the capital Beirut, on April 9, 2019. The Lebanese cabinet has approved a plan to restructure the country's ailing electricity sector vowing to provide power 24 hours a day from a grid notorious for blackouts. / AFP / JOSEPH EID

BEIRUT: Lebanese company ZR Energy was awarded the tender for importing 180,000 tons of fuel oil at a premium global price of $29.50 per ton.

A spokesperson for oil facilities in Tripoli told local media that the fuel oil would reach the facilities within 15 days, in order to start selling it on the Lebanese market in local currency.

These quantities of fuel oil will represent 70 percent of the Lebanese market's needs, as well as the private companies’ desire to sell the quantities they have in dollars. Private Lebanese importing oil companies are selling their product to the market in U.S. dollars.

The Lebanese army, security forces, bakeries, hospitals and other institutions including Zahle Electricity Company buy all fuel oil from the oil facilities, which comply with the weekly price schedule issued by the Energy Ministry.





Your feedback is important to us!

We invite all our readers to share with us their views and comments about this article.

Disclaimer: Comments submitted by third parties on this site are the sole responsibility of the individual(s) whose content is submitted. The Daily Star accepts no responsibility for the content of comment(s), including, without limitation, any error, omission or inaccuracy therein. Please note that your email address will NOT appear on the site.

Alert: If you are facing problems with posting comments, please note that you must verify your email with Disqus prior to posting a comment. follow this link to make sure your account meets the requirements. (http://bit.ly/vDisqus)

comments powered by Disqus



Interested in knowing more about this story?

Click here