ABI KHALIL: OIL TRANSACTIONS IN LEBANON TO BE MADE IN US DOLLARS

Minister of Energy and Water, Caesar Abi Khalil, said in a statement that “the oil transactions in Lebanon, which are linked to oil activities in the event of contracting exploration of basins in the Lebanese waters, will be made in US dollars.”

“Transactions relating to exploration costs and oil revenues will be in US dollars, as per the exploration and production agreement and the provisions contained in Annex D of the Convention under the headline of accounting and taxation procedures,” he said.

Source: National News Agency