Latest news with #YazbekWehbe
LBCI
18 hours ago
- Business
- LBCI
From Kirkuk to Tripoli: Historic oil pipeline poised for comeback
Report by Yazbek Wehbe, English adaptation by Mariella Succar The U.S. Caesar Act, which imposed sanctions on Syria, had delayed efforts to revive the Iraqi oil pipeline running from Kirkuk in northern Iraq to Baniyas in Syria and then to Tripoli in northern Lebanon. The lifting of U.S. sanctions has now put the project back on track, driven by Iraq's interest in supporting Lebanon and expanding its oil exports to the Mediterranean and onward to Europe, particularly amid disputes with Turkey over exports from the Turkish port of Ceyhan. Work on the pipeline began 95 years ago by the Iraq Petroleum Company (IPC). In 1940, the Tripoli refinery was established to process imported crude oil. In the 1950s, a new line was added to the Tripoli route, with a capacity of about 400,000 barrels per day. Sources told LBCI that a technical inspection of the pipeline showed minor damage from Kirkuk to the Baniyas refinery inside Syria, while more significant damage was found between Baniyas and the Al-Buqai'a border crossing between Lebanon and Syria in the Wadi Khaled area. The remaining section from Al-Buqai'a to Tripoli requires replacement, and the Iraqi side is prepared to consider financing this work. The information also indicates that Lebanon — which has hosted two Iraqi technical delegations in the past three months — is ready to work on this file with both Iraq and Syria, fully aware of the economic benefits it would gain if the pipeline were reactivated and a modern refinery built. The Iraqi side is also studying the possibility of constructing a new pipeline from Basra in southern Iraq to Kirkuk, connecting it to the existing line to Tripoli. Before 1984, Lebanon collected transit fees on Iraqi oil, amounting to about $1 per barrel, and Iraq allocated a quantity of oil for Lebanese domestic consumption at preferential prices. The renewed oil cooperation could bring major benefits, especially if the planned Tripoli economic zone — designed to produce all types of petroleum products — is completed. As global competition intensifies over oil and gas fields, export routes, and diverse trade corridors, Lebanon's strategic geographic location could allow it to play an influential and productive role — provided it approaches the matter away from political polarization and, crucially, free from corruption.
LBCI
3 days ago
- Business
- 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.
LBCI
02-08-2025
- Business
- LBCI
As fuel tax stalls, Lebanon hunts for new ways to pay military and security personnel
Report by Yazbek Wehbe, English adaptation by Akram Chehayeb Before August 15, and possibly within a few days, Lebanon's Ministry of Finance will pay the approved grant for July to both active and retired military and security personnel, once it receives the payroll lists from the army command and security institutions. This grant, which amounts to approximately $30 million per month, was funded through the fuel tax approved by the government before the State Shura Council suspended its implementation a month after its approval. An active-duty soldier will receive 14 million Lebanese lira, while a retiree will receive 12 million. The number of active military personnel stands at 120,000, with retirees totaling around 82,000. The State Shura Council's decision canceled the tax, but the increase was not canceled. Therefore, the Ministry of Finance is facing a challenge in terms of securing alternative sources of funding to continue paying, and here lies the issue. The Ministry of Finance has pledged not to spend a single lira without guaranteed revenue. The ministry is committed to following the International Monetary Fund's advice, fearing that any wrong decision could jeopardize the signing of an agreement with the IMF. But what funding sources are available? Some propose increasing a specific tax on gasoline only, excluding diesel, especially since gasoline is not used by everyone. This tax hike does not require approval from parliament, but some MPs might oppose the measure. Alternative solutions include improving tax collection, encouraging tax compliance, and boosting revenue from customs and coastal property, which could provide alternative funding sources. The most important thing is to move away from relying on consumption taxes and instead adopt permanent and sustainable financing plans.
LBCI
29-07-2025
- Entertainment
- LBCI
A genius mourned: Lebanon gathers for Ziad Rahbani's memorial
Report by Yazbek Wehbe, English adaptation by Yasmine Jaroudi Ziad Rahbani was more than a composer or playwright—he was a mirror of Lebanon's identity, a vital part of its theatrical and musical soul. On the second day of his memorial services, his presence was deeply felt in the eyes and hearts of those who came to bid him farewell. The nation remains cloaked in grief over the loss of the man many regarded as a genius. At the Church of the Dormition in Mhaydseh, Bikfaya—a place long familiar to the Rahbani family—the hall overflowed with mourners. Some were political figures who may have aligned or disagreed with his ideals, but all were united in their admiration of his artistry. Artists from both his generation and the younger ones gathered as well, drawn by the brilliance of a man whose unconventional philosophy left a lasting mark. Among them were his closest companions in theater, music, and life—those who truly understood the complexity of his mind and spirit. Some chose silence over words, holding on to the joy of shared memories, while others remembered him in their own heartfelt ways. At the heart of this collective sorrow stood his mother, the legendary Fairouz. Her silence spoke volumes, and the tear in her eye captured the depth of her pain. To many, Fairouz is a national symbol, and in her grief, the nation grieves with her. Though the official mourning may last only a few days, Fairouz's private tribute will continue each morning—from the balcony of her home in Zeghrine, where she will sing to her son, echoing his melodies in eternal prayer.
LBCI
26-04-2025
- Politics
- LBCI
Hundreds injured: Massive explosion rocks Iranian port, drawing comparisons to Beirut blast
Report by Yazbek Wehbe, English adaptation by Karine Keuchkerian It felt like an earthquake — that was the initial sensation reported by residents of Bandar Abbas before they heard a powerful explosion followed by a massive black cloud rising into the sky south of their city. The blast immediately reminded many of the Beirut port explosion five years ago. The explosion occurred at the strategic Shahid Rajaee Port, located near the Strait of Hormuz at the entrance to the Arabian Gulf, about 14 kilometers southwest of Bandar Abbas and roughly 1,000 kilometers from the capital, Tehran. Iranian state television quoted an official from the Ports and Maritime Organization in Hormozgan province as saying the explosion took place in a warehouse storing flammable materials at the city's customs area. Efforts to extinguish the fire, involving helicopters, continued for several hours. The blast resulted in hundreds of injuries, with the wounded transferred to hospitals in Bandar Abbas. Authorities declared a state of emergency in the city. Windows in buildings and cars shattered several kilometers away, and there was extensive damage to port facilities, where dozens of containers were either destroyed or burned by the force of the explosion. Given that Israel has repeatedly threatened to target Iranian facilities, speculation initially pointed toward Israeli involvement. However, Israel's Maariv newspaper quoted military officials as saying the Israeli army had no connection to the explosion. Iranian President Masoud Pezeshkian dispatched his interior minister to Bandar Abbas as a special envoy to assess the situation and ordered a detailed investigation into the blast.
