
Cyberattack disrupts Iran's Bank Sepah — report
The issue is to be resolved in the next few hours.
Reuters
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LBCI
16 hours ago
- LBCI
Electricity solutions in Lebanon: Will four decades of power shortages come to an end?
Report by Yazbek Wehbe, English adaptation by Yasmine Jaroudi More than 40 years into Lebanon's chronic electricity crisis, power cuts remain a daily reality, with recent blackouts during peak summer heat also disrupting water supplies and other essential services. Nationwide outages, or "blackouts," could recur at any time as long as power generation remains at less than one-third of the country's needs. Lebanon currently produces only about 700 megawatts of electricity, far short of the 3,000 megawatts required. Authorities say short and medium-term measures to improve generation and extend supply hours will begin rolling out in the coming weeks. The plans follow the Finance and Energy ministers' signing of a decree to enact a World Bank loan worth $250 million aimed at renewable energy projects and strengthening the power grid. The loan includes rebuilding the central control center destroyed in the August 4 Beirut port explosion, repairing networks, improving billing systems, and advancing solar power generation projects. Lebanon is also set to benefit from Kuwait's recent decision to provide four shipments of gas oil totaling 132,000 tons, half of it free and half at market price with deliveries expected to begin before the end of September. The agreement with Iraq to supply fuel remains in place, though Iraqi authorities have yet to use funds set aside for the deal, which are held in a special account at the Banque du Liban (BDL) pending the creation of a dedicated payment platform by the Investment Development Authority of Lebanon (IDAL). In addition, a technical delegation from Qatar is expected to arrive in Beirut within hours to discuss possible support for Lebanon's electricity sector, following talks held over the past two months between the Lebanese President, Prime Minister, and Energy Minister, with Qatari officials. The long-delayed appointment of the electricity regulatory authority, expected at the first Cabinet session in Baabda, is seen as key to implementing sustainable reforms. Proposed solutions include building modern gas-fired plants, which are cheaper and cleaner than fuel oil, boosting revenue collection, and expanding solar and wind energy use. Officials stress that resolving the electricity crisis requires sustainable, politically neutral solutions. After four decades of partial darkness and the dominance of private generator cartels, many in Lebanon say the time for lasting reform is long overdue.


Ya Libnan
a day ago
- Ya Libnan
Iraqi Oil Ministry: We are studying the possibility of exporting oil through the Lebanese port of Tripoli.
The Iraqi Ministry of Oil announced that it is studying the possibility of exporting oil through the Lebanese port of Tripoli, noting that it will consider REVAMPING the oil export pipeline between Iraq and Syria. The ministry added that it will form a joint committee to assess the pipeline's condition. The announcement came during a visit by the Syrian Energy Minister to Baghdad to discuss cooperation in the oil, gas, and energy sectors. Iraq sent a high-level delegation to Damascus in April to assess the feasibility of renewing its oil pipeline with Syria, a step Baghdad is counting on to diversify its export outlets amid an expansion in its production capacity. the so called Kirkuk–Baniyas pipeline is a currently defunct crude oil pipeline built by the Iraq Petroleum Company from the Kirkuk oil field in Iraq to the Syrian port of Baniyas. The pipeline went into operation in April 1952 and was formally opened in November of that year Between 1982 and 2000 the pipeline was shut down by Iraq, due to Syrian support to Iran during the Iran–Iraq War. During the 2003 invasion of Iraq , the pipeline was damaged by U.S. air-strikes and remained out of operation since then. Iraq primarily exports its oil through its southern Basra terminals , which account for the majority of its exports and state revenue. Additionally, oil exports from the Kurdistan region are being delivered to the Iraqi State Oil Marketing Organization (SOMO) for export, following an agreement between Baghdad and the Kurdistan Regional Government.


LBCI
3 days ago
- LBCI
Lebanon's finance minister calls for exclusive army control of weapons, stronger sovereignty
Finance Minister Yassine Jaber on Sunday extended condolences to the Lebanese army's leadership, officers, soldiers, and their families, speaking from Nabatieh during the inauguration of the 'Beit El Moughtareb Al Loubnani.' 'I reaffirm, as a minister in the government, the position I have held since day one: our priority is to build the state, strengthen all its institutions, and bolster their role — foremost among them the Lebanese army and all military forces — with weapons held exclusively in their hands,' Jaber said. He said his work at the Finance Ministry, particularly in modernizing systems, curbing tax evasion, and increasing revenues, is aimed at building a state that is protective, inclusive, and just. The goal, he added, is to strengthen state authority and raise the military's capabilities so it can fully uphold sovereignty, protect all citizens, and attract expatriates and investors seeking a safe, productive environment. 'The responsibility today is greater than ever,' Jaber said, urging all Lebanese to act with sincerity, good intentions, and a belief in shared living and a common destiny. 'When the ship sinks, it takes down everyone on board,' he warned.