Lebanon’s Directorate General of Oil (DGO) says Dubai’s Emirates National Oil Company (Enoc) is the “winner” of the “first spot cargo tender” to swap Iraqi HSFO for higher quality product.

This follows a 24 July intergovernmental deal under which Iraq pledged Lebanon 1mn tons (around 6.5mn barrels) of fuel oil (MEES, 18 June). Iraq’s 3.7-5% sulfur fuel oil is too low quality to run in Électricité du Liban’s plants, hence the need for the swap. (CONTINUED - 385 WORDS)